Morgan Stanley Cuts RXO (NYSE:RXO) Price Target to $21.00

RXO (NYSE:RXO) had its price target dropped by investment analysts at Morgan Stanley from $23.00 to $21.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 28.60% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Jefferies Financial Group lowered their target price on RXO from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Bank of America increased their target price on RXO from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. UBS Group lowered their target price on RXO from $24.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Oppenheimer cut RXO from an “outperform” rating to a “market perform” rating in a research note on Friday, April 4th. Finally, Truist Financial lowered their target price on RXO from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.67.

RXO Trading Down 2.9%

RXO stock traded down $0.49 during trading hours on Monday, reaching $16.33. 800,572 shares of the company’s stock traded hands, compared to its average volume of 1,347,677. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.30 and a current ratio of 1.30. RXO has a fifty-two week low of $12.19 and a fifty-two week high of $32.82. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -7.51, a PEG ratio of 7.70 and a beta of 1.69. The firm’s 50 day moving average is $15.59 and its 200-day moving average is $18.74.

RXO (NYSE:RXO) last released 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). The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.51 billion. RXO had a negative net margin of 5.94% and a positive return on equity of 1.18%. The business’s revenue for the quarter was up 57.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, analysts predict that RXO will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On RXO

Large investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of RXO by 25.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,433 shares of the company’s stock worth $54,000 after buying an additional 688 shares during the last quarter. Douglas Lane & Associates LLC increased its holdings in RXO by 4.1% in the 2nd quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company’s stock valued at $58,789,000 after buying an additional 148,738 shares during the period. Rhumbline Advisers increased its holdings in RXO by 1.1% in the 1st quarter. Rhumbline Advisers now owns 413,204 shares of the company’s stock valued at $7,892,000 after buying an additional 4,337 shares during the period. Strs Ohio bought a new position in RXO in the 1st quarter valued at about $97,000. Finally, Geneos Wealth Management Inc. bought a new stake in shares of RXO during the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

About RXO

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.