RXO (NYSE:RXO) Given New $20.00 Price Target at Truist Financial

RXO (NYSE:RXO) had its target price cut by Truist Financial from $22.00 to $20.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently commented on RXO. UBS Group increased their target price on shares of RXO from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Stifel Nicolaus upped their price target on RXO from $14.00 to $17.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Wall Street Zen upgraded RXO from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Susquehanna dropped their target price on RXO from $11.00 to $10.00 and set a “negative” rating on the stock in a research note on Friday. Finally, Benchmark reaffirmed a “hold” rating on shares of RXO in a research report on Wednesday, October 22nd. Three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, RXO presently has an average rating of “Reduce” and a consensus price target of $16.85.

RXO Stock Down 8.0%

RXO stock traded down $1.09 during trading on Friday, reaching $12.47. 3,250,090 shares of the company traded hands, compared to its average volume of 1,815,074. The business has a 50 day simple moving average of $16.70 and a 200 day simple moving average of $16.02. RXO has a 12 month low of $12.16 and a 12 month high of $31.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.32. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -28.99, a price-to-earnings-growth ratio of 8.53 and a beta of 1.67.

RXO (NYSE:RXO) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). RXO had a negative net margin of 1.25% and a positive return on equity of 0.88%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the company posted $0.05 earnings per share. The business’s quarterly revenue was up 34.6% compared to the same quarter last year. On average, equities research analysts anticipate that RXO will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RXO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new stake in RXO during the 1st quarter valued at about $292,000. Principal Financial Group Inc. lifted its holdings in shares of RXO by 3.4% during the first quarter. Principal Financial Group Inc. now owns 707,430 shares of the company’s stock worth $13,512,000 after purchasing an additional 23,160 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of RXO by 4.0% during the first quarter. Envestnet Asset Management Inc. now owns 70,917 shares of the company’s stock worth $1,355,000 after purchasing an additional 2,741 shares during the period. New York State Common Retirement Fund boosted its position in RXO by 7.3% in the first quarter. New York State Common Retirement Fund now owns 482,243 shares of the company’s stock valued at $9,211,000 after buying an additional 32,820 shares during the last quarter. Finally, Emerald Advisers LLC increased its holdings in RXO by 0.3% in the 1st quarter. Emerald Advisers LLC now owns 854,986 shares of the company’s stock worth $16,330,000 after buying an additional 2,493 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

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.