Bank of America Cuts RXO (NYSE:RXO) Price Target to $15.00

RXO (NYSE:RXO) had its target price decreased by Bank of America from $17.00 to $15.00 in a research report released on Wednesday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

RXO has been the subject of several other reports. Stephens set a $15.00 price objective on RXO in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RXO in a research report on Monday, December 22nd. Zacks Research downgraded RXO from a “hold” rating to a “strong sell” rating in a report on Friday, January 9th. Stifel Nicolaus set a $15.00 price target on RXO in a research report on Thursday, February 5th. Finally, Citigroup raised their price objective on RXO from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, RXO presently has an average rating of “Hold” and a consensus price target of $16.07.

RXO Trading Down 2.1%

NYSE:RXO opened at $13.91 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.27 and a quick ratio of 1.27. RXO has a one year low of $10.43 and a one year high of $19.65. The company has a market cap of $2.28 billion, a PE ratio of -23.97, a PEG ratio of 11.15 and a beta of 1.67. The firm has a 50-day moving average of $14.73 and a 200-day moving average of $14.85.

RXO (NYSE:RXO) last announced its quarterly earnings results 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 the consensus estimate of $1.50 billion. RXO had a negative net margin of 1.74% and a negative return on equity of 0.44%. RXO’s revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 EPS. As a group, equities research analysts expect that RXO will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On RXO

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

RXO Company Profile

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.