RXO (NYSE:RXO) Hits New 12-Month High – Should You Buy?

Rxo Inc (NYSE:RXO) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $29.90 and last traded at $29.2290, with a volume of 71245 shares trading hands. The stock had previously closed at $28.87.

Analyst Ratings Changes

RXO has been the subject of a number of analyst reports. Susquehanna raised their target price on shares of RXO from $18.00 to $20.00 and gave the company a “negative” rating in a research note on Tuesday, July 14th. Stifel Nicolaus upped their price target on RXO from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Stephens raised RXO to a “hold” rating in a research report on Wednesday, July 8th. Wells Fargo & Company lifted their price objective on RXO from $15.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised RXO from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.57.

RXO Price Performance

The firm has a fifty day moving average of $26.22 and a 200 day moving average of $19.46. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $4.73 billion, a P/E ratio of -47.01 and a beta of 2.03.

RXO (NYSE:RXO) last posted its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) EPS. On average, equities research analysts anticipate that Rxo Inc will post 0.07 EPS for the current year.

Institutional Investors Weigh In On RXO

A number of hedge funds have recently added to or reduced their stakes in RXO. Orbis Allan Gray Ltd lifted its stake 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. Franklin Resources Inc. boosted its holdings in shares of RXO by 91.2% in the third quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company’s stock worth $35,818,000 after buying an additional 1,110,530 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in RXO during the fourth quarter valued at approximately $11,224,000. Wellington Management Group LLP grew its position in RXO by 7.9% during 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. Finally, Kennedy Capital Management LLC purchased a new stake in RXO during the fourth quarter valued at approximately $9,098,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

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.