Rxo Inc (NYSE:RXO) Stock Rated “Hold” by Sell-Side Analysts

Rxo Inc (NYSE:RXO) has earned a consensus rating of “Hold” from the twenty ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $27.32.

RXO has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $31.00 target price on shares of RXO in a research report on Friday, August 7th. JPMorgan Chase & Co. upgraded shares of RXO from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $22.00 to $30.00 in a report on Tuesday, October 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RXO in a report on Tuesday, September 1st. Jefferies Financial Group downgraded RXO from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Tuesday, October 6th. Finally, Zacks Research raised RXO from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th.

RXO Stock Performance

RXO opened at $27.92 on Wednesday. RXO has a one year low of $10.43 and a one year high of $29.90. The stock has a market capitalization of $4.61 billion, a PE ratio of -54.75 and a beta of 1.96. The business’s 50 day moving average price is $24.61 and its 200 day moving average price is $21.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.28 and a current ratio of 1.28.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.82 billion. RXO had a negative return on equity of 0.07% and a negative net margin of 1.35%. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 earnings per share. As a group, equities research analysts expect that RXO will post 0.16 EPS for the current year.

Hedge Funds Weigh In On RXO

Several hedge funds and other institutional investors have recently made changes to their positions in RXO. Public Sector Pension Investment Board increased its stake in shares of RXO by 51.3% during the third quarter. Public Sector Pension Investment Board now owns 857,281 shares of the company’s stock worth $17,540,000 after buying an additional 290,730 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of RXO in the 3rd quarter valued at $3,465,000. HighTower Advisors LLC raised its holdings in shares of RXO by 98.7% in the 3rd quarter. HighTower Advisors LLC now owns 20,616 shares of the company’s stock valued at $422,000 after purchasing an additional 10,238 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of RXO by 4.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 936,831 shares of the company’s stock worth $19,168,000 after purchasing an additional 43,086 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its position in shares of RXO by 52.8% during the 3rd quarter. Maryland State Retirement & Pension System now owns 36,869 shares of the company’s stock worth $754,000 after purchasing an additional 12,745 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

About RXO

RXO, Inc. is an asset-light transportation and logistics provider that connects shippers with carriers through a technology-enabled freight brokerage platform. Its services include truckload and less-than-truckload brokerage, managed transportation, freight forwarding and last-mile delivery. The company serves customers primarily across North America, coordinating transportation for a range of industries and shipment types. Its technology helps customers manage shipping activity and provides visibility into freight movements.