RXO (NYSE:RXO) Shares Up 8.6% – Still a Buy?

Rxo Inc (NYSE:RXO)’s share price rose 8.6% during trading on Thursday . The company traded as high as $17.92 and last traded at $17.88. Approximately 1,052,415 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 2,274,921 shares. The stock had previously closed at $16.47.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RXO. Stephens set a $15.00 target price on RXO in a research report on Monday, February 9th. Zacks Research upgraded shares of RXO from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Benchmark restated a “hold” rating on shares of RXO in a report on Monday, February 9th. Stifel Nicolaus set a $15.00 price objective on RXO in a report on Thursday, February 5th. Finally, Susquehanna lifted their target price on RXO from $10.00 to $11.00 and gave the company a “negative” rating in a research report on Thursday, January 8th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.77.

RXO Price Performance

The stock has a market cap of $2.93 billion, a PE ratio of -30.65, a P/E/G ratio of 21.36 and a beta of 1.65. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.27 and a current ratio of 1.27. The business has a 50 day moving average price of $14.79 and a two-hundred day moving average price of $14.75.

RXO (NYSE:RXO) last posted its quarterly earnings data on Friday, February 6th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.50 billion. RXO had a negative return on equity of 0.44% and a negative net margin of 1.74%.The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. Research analysts expect that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RXO

Several large investors have recently modified their holdings of the stock. Orbis Allan Gray Ltd raised its holdings in shares of RXO by 6.5% in the 4th quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock worth $438,327,000 after purchasing an additional 2,104,597 shares during the period. Vanguard Group Inc. increased its position in RXO by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 17,309,811 shares of the company’s stock worth $218,796,000 after buying an additional 93,130 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of RXO by 7.9% in the third quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock valued at $153,780,000 after buying an additional 735,810 shares during the period. Finepoint Capital LP purchased a new position in shares of RXO during the 3rd quarter valued at $111,764,000. Finally, State Street Corp lifted its position in shares of RXO by 3.7% during the 4th quarter. State Street Corp now owns 6,370,232 shares of the company’s stock valued at $80,520,000 after buying an additional 230,053 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

About RXO

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.