Wells Fargo & Company Lowers RXO (NYSE:RXO) Price Target to $15.00

RXO (NYSE:RXO) had its price objective lowered by equities researchers at Wells Fargo & Company from $20.00 to $15.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 3.52% from the company’s current price.

Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft started coverage on RXO in a report on Friday, March 7th. They set a “hold” rating and a $19.00 target price on the stock. Citigroup dropped their price objective on shares of RXO from $23.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Susquehanna reduced their target price on shares of RXO from $18.00 to $13.00 and set a “negative” rating for the company in a report on Wednesday, March 26th. Stifel Nicolaus lowered their price target on shares of RXO from $24.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Benchmark restated a “hold” rating on shares of RXO in a report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.93.

RXO Price Performance

Shares of RXO opened at $14.49 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $16.00 and its 200 day simple moving average is $22.31. RXO has a 1-year low of $12.19 and a 1-year high of $32.82. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -6.83, a PEG ratio of 4.55 and a beta of 1.71.

RXO (NYSE:RXO) last issued its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the company posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 57.0% compared to the same quarter last year. On average, research analysts forecast that RXO will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of RXO

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of RXO by 13.2% during the fourth quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock valued at $410,137,000 after purchasing an additional 2,009,937 shares in the last quarter. FIL Ltd grew its stake in RXO by 10.4% during the fourth quarter. FIL Ltd now owns 6,327,889 shares of the company’s stock worth $150,857,000 after purchasing an additional 596,158 shares during the period. Douglas Lane & Associates LLC increased its holdings in RXO by 34.3% in the first quarter. Douglas Lane & Associates LLC now owns 3,591,040 shares of the company’s stock worth $68,589,000 after purchasing an additional 916,379 shares in the last quarter. Geode Capital Management LLC lifted its stake in RXO by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company’s stock valued at $80,185,000 after buying an additional 307,492 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of RXO by 15.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,730,665 shares of the company’s stock worth $52,155,000 after buying an additional 355,255 shares during the period. Institutional investors own 92.73% of the company’s stock.

RXO Company Profile

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.