RXO (NYSE:RXO) Hits New 12-Month Low on Analyst Downgrade

RXO, Inc. (NYSE:RXO) hit a new 52-week low during mid-day trading on Thursday after Barclays lowered their price target on the stock from $24.00 to $22.00. Barclays currently has an overweight rating on the stock. RXO traded as low as $16.85 and last traded at $17.02, with a volume of 358166 shares trading hands. The stock had previously closed at $19.55.

A number of other research analysts have also weighed in on RXO. Benchmark restated a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. The Goldman Sachs Group cut their price target on RXO from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Wells Fargo & Company decreased their price objective on RXO from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Susquehanna cut their target price on shares of RXO from $18.00 to $13.00 and set a “negative” rating for the company in a report on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of RXO in a research report on Friday, March 7th. They issued a “hold” rating and a $19.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.80.

Hedge Funds Weigh In On RXO

A number of large investors have recently made changes to their positions in the company. FMR LLC lifted its stake in RXO by 439.5% in the third quarter. FMR LLC now owns 47,837 shares of the company’s stock worth $1,339,000 after purchasing an additional 38,970 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of RXO by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company’s stock worth $51,138,000 after buying an additional 76,653 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of RXO during the 4th quarter worth approximately $2,004,000. Victory Capital Management Inc. lifted its stake in shares of RXO by 11.6% during the 4th quarter. Victory Capital Management Inc. now owns 849,340 shares of the company’s stock worth $20,248,000 after acquiring an additional 88,110 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in RXO by 71.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 272,062 shares of the company’s stock valued at $7,618,000 after acquiring an additional 113,685 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Stock Down 13.1 %

The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $20.93 and a 200 day simple moving average of $25.05. The company has a market cap of $2.77 billion, a P/E ratio of -8.01, a P/E/G ratio of 4.55 and a beta of 1.67.

RXO (NYSE:RXO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. On average, equities analysts anticipate that RXO, Inc. will post 0.31 EPS for the current year.

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.