RXO (NYSE:RXO) Stock Price Up 7.5% – Here’s Why

Rxo Inc (NYSE:RXO)’s stock price shot up 7.5% during trading on Friday. The company traded as high as $22.91 and last traded at $22.9620. 152,967 shares were traded during trading, a decline of 93% from the average session volume of 2,155,004 shares. The stock had previously closed at $21.36.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup upgraded shares of RXO from a “market perform” rating to an “outperform” rating in a research report on Friday, August 7th. TD Cowen decreased their price target on RXO from $19.00 to $17.50 and set a “sell” rating on the stock in a research report on Friday, August 7th. Barclays upped their price objective on shares of RXO from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of RXO in a report on Tuesday, September 1st. Finally, Wells Fargo & Company restated a “positive” rating on shares of RXO in a research report on Thursday, September 10th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.62.

RXO Stock Up 9.2%

The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $21.14 and a two-hundred day moving average of $21.74. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of -38.22 and a beta of 2.10.

RXO (NYSE:RXO) last issued its earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. RXO had a negative return on equity of 0.98% and a negative net margin of 1.72%.The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The business’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Rxo Inc will post 0.14 EPS for the current fiscal year.

Institutional Trading of RXO

A number of hedge funds and other institutional investors have recently modified their holdings of RXO. Maple Rock Capital Partners Inc. acquired a new stake in shares of RXO during the 2nd quarter worth approximately $71,283,000. Kennedy Capital Management LLC acquired a new stake in RXO in the 4th quarter valued at $9,098,000. Dimensional Fund Advisors LP increased its position in shares of RXO by 32.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,048,903 shares of the company’s stock worth $29,949,000 after acquiring an additional 504,955 shares in the last quarter. Emerald Advisers LLC boosted its stake in RXO by 434,029.7% during the 1st quarter. Emerald Advisers LLC now owns 438,471 shares of the company’s stock valued at $6,410,000 after purchasing an additional 438,370 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of RXO by 128.6% during the first quarter. Bank of America Corp DE now owns 724,060 shares of the company’s stock valued at $10,586,000 after buying an additional 407,285 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

About RXO

RXO, Inc is a transportation services company that provides asset-light freight brokerage and logistics solutions. The company connects shippers with independent carriers and helps coordinate the movement of truckload, less-than-truckload and other freight across North America.

RXO’s services include digital freight brokerage, managed transportation and last-mile logistics. Its brokerage business uses technology and carrier relationships to match customer shipments with available transportation capacity, while its managed transportation offerings help companies plan, coordinate and optimize freight operations.