Susquehanna Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price objective decreased by research analysts at Susquehanna from $11.00 to $10.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “negative” rating on the stock. Susquehanna’s price objective would suggest a potential downside of 19.78% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Barclays lowered their target price on RXO from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Tuesday, August 12th. Wall Street Zen upgraded shares of RXO from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Cowen restated a “hold” rating on shares of RXO in a research report on Friday, August 8th. Truist Financial set a $22.00 target price on shares of RXO in a research report on Tuesday, October 14th. Finally, Stifel Nicolaus upped their price target on RXO from $14.00 to $17.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, RXO currently has an average rating of “Reduce” and an average price target of $16.85.

RXO Trading Down 8.0%

Shares of RXO stock opened at $12.47 on Friday. RXO has a fifty-two week low of $12.16 and a fifty-two week high of $31.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.32. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -28.99, a PEG ratio of 7.86 and a beta of 1.67. The stock has a 50 day moving average of $16.70 and a 200 day moving average of $16.04.

RXO (NYSE:RXO) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). RXO had a negative net margin of 1.25% and a positive return on equity of 0.88%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the firm posted $0.05 earnings per share. RXO’s revenue was up 34.6% on a year-over-year basis. As a group, research analysts predict that RXO will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On RXO

Hedge funds have recently made changes to their positions in the stock. Hodges Capital Management Inc. grew its stake in shares of RXO by 11.8% during the 3rd quarter. Hodges Capital Management Inc. now owns 164,000 shares of the company’s stock valued at $2,522,000 after buying an additional 17,300 shares during the period. Vanguard Group Inc. grew its position in RXO by 1.4% during the third quarter. Vanguard Group Inc. now owns 17,216,681 shares of the company’s stock valued at $264,793,000 after acquiring an additional 233,434 shares during the period. Public Sector Pension Investment Board grew its position in RXO by 31.6% during the third quarter. Public Sector Pension Investment Board now owns 639,606 shares of the company’s stock valued at $9,837,000 after acquiring an additional 153,468 shares during the period. Rhumbline Advisers increased its stake in RXO by 5.9% during the third quarter. Rhumbline Advisers now owns 469,860 shares of the company’s stock worth $7,226,000 after acquiring an additional 26,328 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of RXO by 13.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 48,682 shares of the company’s stock worth $749,000 after purchasing an additional 5,825 shares during the period. 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.