RXO (NYSE:RXO) Stock Price Down 7.6% – Here’s Why

Rxo Inc (NYSE:RXO) fell 7.6% during mid-day trading on Thursday . The company traded as low as $16.75 and last traded at $18.30. 1,237,393 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 2,260,998 shares. The stock had previously closed at $19.81.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RXO. Susquehanna upped their target price on RXO from $14.00 to $18.00 and gave the company a “negative” rating in a research report on Friday, May 8th. Barclays upped their target price on RXO from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Morgan Stanley reissued an “equal weight” rating and issued a $22.00 target price (up from $19.00) on shares of RXO in a research report on Thursday, May 7th. Stifel Nicolaus set a $15.00 target price on RXO in a research report on Thursday, February 5th. Finally, Benchmark reissued a “hold” rating on shares of RXO in a research report on Monday, February 9th. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $19.54.

RXO Trading Down 11.8%

The company has a 50 day simple moving average of $16.36 and a 200 day simple moving average of $15.08. 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 stock has a market capitalization of $2.88 billion, a PE ratio of -28.98, a P/E/G ratio of 9.94 and a beta of 1.96.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The firm’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.03) EPS. Analysts predict that Rxo Inc will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RXO

A number of large investors have recently modified their holdings of the business. Principal Financial Group Inc. increased its stake in RXO by 11.8% in the 3rd quarter. Principal Financial Group Inc. now owns 791,799 shares of the company’s stock valued at $12,178,000 after purchasing an additional 83,305 shares in the last quarter. Finepoint Capital LP acquired a new stake in RXO during the 3rd quarter valued at $111,764,000. Cornerstone Wealth Group LLC acquired a new stake in RXO during the 3rd quarter valued at $4,026,000. Public Sector Pension Investment Board grew its holdings in RXO by 31.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 639,606 shares of the company’s stock valued at $9,837,000 after buying an additional 153,468 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in RXO by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 17,216,681 shares of the company’s stock valued at $264,793,000 after buying an additional 233,434 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

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.