RXO’s (RXO) “Hold” Rating Reaffirmed at Benchmark

Benchmark reaffirmed their hold rating on shares of RXO (NYSE:RXO) in a report released on Friday, Benzinga reports.

RXO has been the subject of a number of other research reports. Stifel Nicolaus raised their target price on shares of RXO from $20.00 to $22.00 and gave the company a hold rating in a research report on Wednesday, January 10th. Oppenheimer decreased their target price on shares of RXO from $23.00 to $22.00 and set an outperform rating for the company in a research report on Tuesday, February 13th. Vertical Research downgraded shares of RXO from a buy rating to a hold rating and set a $23.00 target price for the company. in a research report on Wednesday, January 10th. Susquehanna raised their target price on shares of RXO from $15.00 to $16.00 and gave the company a negative rating in a research report on Monday, March 25th. Finally, Bank of America downgraded shares of RXO from a buy rating to a neutral rating and decreased their price objective for the company from $25.00 to $22.00 in a research report on Thursday, February 8th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $20.23.

RXO Trading Up 2.3 %

Shares of NYSE:RXO opened at $19.37 on Friday. RXO has a 12 month low of $16.94 and a 12 month high of $24.33. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60. The company’s fifty day simple moving average is $20.95 and its 200 day simple moving average is $20.85. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 484.37, a PEG ratio of 6.66 and a beta of 1.08.

RXO (NYSE:RXO) last released its earnings results on Thursday, February 8th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $978.00 million during the quarter, compared to the consensus estimate of $996.33 million. RXO had a net margin of 0.10% and a return on equity of 6.11%. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. As a group, research analysts forecast that RXO will post 0.22 EPS for the current fiscal year.

Insider Transactions at RXO

In related news, major shareholder Mfn Partners, Lp bought 870,000 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was bought at an average price of $19.52 per share, for a total transaction of $16,982,400.00. Following the purchase, the insider now owns 16,675,369 shares in the company, valued at approximately $325,503,202.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders purchased 2,578,268 shares of company stock worth $52,301,046. 1.50% of the stock is owned by insiders.

Institutional Trading of RXO

A number of hedge funds have recently modified their holdings of RXO. Bessemer Group Inc. acquired a new stake in RXO in the 4th quarter worth about $26,000. GAMMA Investing LLC acquired a new stake in RXO in the 4th quarter worth about $27,000. Allspring Global Investments Holdings LLC raised its stake in RXO by 6,329.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock worth $39,000 after purchasing an additional 1,962 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in RXO in the 4th quarter worth about $39,000. Finally, Ramirez Asset Management Inc. acquired a new stake in RXO in the 3rd quarter worth about $45,000. Institutional investors and hedge funds 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.