RXO (NYSE:RXO) Price Target Raised to $18.00 at Bank of America

RXO (NYSE:RXO) had its price objective raised by Bank of America from $15.00 to $18.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the company. Truist Financial decreased their price target on RXO from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Citigroup cut their price objective on RXO from $23.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on RXO in a research report on Friday, March 7th. They set a “hold” rating and a $19.00 price objective for the company. Jefferies Financial Group cut their price objective on RXO from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Stifel Nicolaus cut their price objective on RXO from $24.00 to $14.00 and set a “hold” rating for the company in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.80.

RXO Stock Performance

Shares of NYSE RXO opened at $17.26 on Friday. The stock has a fifty day moving average price of $15.74 and a two-hundred day moving average price of $21.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The firm has a market cap of $2.83 billion, a P/E ratio of -8.14, a PEG ratio of 4.55 and a beta of 1.71. RXO has a 1 year low of $12.19 and a 1 year high of $32.82.

RXO (NYSE:RXO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.51 billion. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. The business’s revenue for the quarter was up 57.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) earnings per share. Research analysts forecast that RXO will post 0.31 EPS for the current fiscal year.

Institutional Trading of RXO

A number of hedge funds have recently modified their holdings of RXO. Oregon Public Employees Retirement Fund raised its holdings in shares of RXO by 1.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company’s stock worth $783,000 after acquiring an additional 500 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock worth $27,000 after acquiring an additional 510 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of RXO by 1.8% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company’s stock worth $712,000 after acquiring an additional 518 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of RXO by 2.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company’s stock worth $505,000 after acquiring an additional 551 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its holdings in shares of RXO by 1.6% during the fourth quarter. Maryland State Retirement & Pension System now owns 47,110 shares of the company’s stock worth $1,123,000 after acquiring an additional 747 shares in the last quarter. 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.