RXO (NYSE:RXO) Trading 10.8% Higher – What’s Next?

Rxo Inc (NYSE:RXO) shares traded up 10.8% during mid-day trading on Friday . The company traded as high as $19.24 and last traded at $19.4090. 770,429 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 2,310,348 shares. The stock had previously closed at $17.51.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RXO. The Goldman Sachs Group reissued a “neutral” rating and issued a $18.00 price target on shares of RXO in a research note on Friday, May 8th. TD Cowen increased their price target on RXO from $14.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Bank of America decreased their price target on RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, March 25th. Barclays increased their price target on RXO from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company increased their price target on RXO from $15.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, RXO presently has an average rating of “Hold” and an average price target of $20.08.

RXO Trading Up 8.4%

The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average of $16.37 and a 200 day moving average of $15.08. The company has a market cap of $3.13 billion, a P/E ratio of -31.11, a price-to-earnings-growth ratio of 22.03 and a beta of 1.96.

RXO (NYSE:RXO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) earnings per share. On average, analysts predict that Rxo Inc will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC purchased a new stake in shares of RXO during the fourth quarter valued at approximately $25,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of RXO during the first quarter valued at approximately $29,000. Geneos Wealth Management Inc. purchased a new stake in shares of RXO during the first quarter valued at approximately $30,000. Quarry LP purchased a new stake in shares of RXO during the third quarter valued at approximately $33,000. Finally, Larson Financial Group LLC increased its position in shares of RXO by 146.5% during the third quarter. Larson Financial Group LLC now owns 2,766 shares of the company’s stock valued at $43,000 after acquiring an additional 1,644 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

RXO Company Profile

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.