RXO (NYSE:RXO) Price Target Raised to $24.00 at Citigroup

RXO (NYSE:RXO) had its target price increased by Citigroup from $17.00 to $24.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also weighed in on RXO. Barclays boosted their price target on shares of RXO from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday. TD Cowen boosted their price target on shares of RXO from $14.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday. Truist Financial boosted their price target on shares of RXO from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday. Susquehanna boosted their price objective on RXO from $14.00 to $18.00 and gave the stock a “negative” rating in a research note on Friday. Finally, Bank of America lowered their price objective on RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. Two analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $19.54.

RXO Stock Performance

Shares of NYSE:RXO opened at $21.80 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.27 and a quick ratio of 1.27. The business’s 50 day moving average price is $15.96 and its 200-day moving average price is $15.01. The firm has a market capitalization of $3.59 billion, a PE ratio of -35.74, a P/E/G ratio of 41.32 and a beta of 1.96. RXO has a 1 year low of $10.43 and a 1 year high of $23.37.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. RXO’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) earnings per share. As a group, equities research analysts expect that RXO will post 0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RXO

Several large investors have recently modified their holdings of RXO. Finepoint Capital LP acquired a new position in shares of RXO in the 3rd quarter valued at $111,764,000. Orbis Allan Gray Ltd lifted its stake in shares of RXO by 6.5% in the 4th quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock valued at $438,327,000 after purchasing an additional 2,104,597 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of RXO by 91.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company’s stock valued at $35,818,000 after purchasing an additional 1,110,530 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of RXO in the 4th quarter valued at $11,224,000. Finally, Wellington Management Group LLP lifted its stake in shares of RXO by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock valued at $153,780,000 after purchasing an additional 735,810 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO News Roundup

Here are the key news stories impacting RXO this week:

• Positive Sentiment: RXO reported Q1 adjusted results that matched EPS expectations and beat revenue estimates, helping ease concerns about demand trends and Amazon-related weakness. RXO Announces First-Quarter Results and Second-Quarter Outlook
• Positive Sentiment: The company’s Q2 outlook also topped Street expectations, with management projecting $27 million to $37 million in adjusted EBITDA and saying contract rates are trending toward high-single-digit gains. RXO expects $27M-$37M Q2 adjusted EBITDA…
• Positive Sentiment: Management said brokerage momentum is improving, full truckload volume strengthened through the quarter, and higher spot mix should support margins going forward. RXO raises contract rate outlook as Q2 profit seen higher
• Neutral Sentiment: Analysts raised price targets after the report, with TD Cowen lifting its target to $21 and Susquehanna increasing its target to $18, but both firms kept cautious ratings. Analyst updates on RXO
• Negative Sentiment: RXO still posted a quarterly loss, and revenue was slightly down year over year, so investors remain focused on whether improved pricing and volume can translate into sustained profitability. RXO Reports Q1 Loss…

About RXO

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.