RXO (NYSE:RXO) Reaches New 52-Week High – Time to Buy?

Shares of Rxo Inc (NYSE:RXO) hit a new 52-week high during trading on Thursday . The company traded as high as $29.86 and last traded at $28.8330, with a volume of 2981729 shares trading hands. The stock had previously closed at $29.12.

Analysts Set New Price Targets

RXO has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of RXO from $15.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Truist Financial increased their price target on shares of RXO from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Barclays increased their price target on shares of RXO from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Bank of America dropped their price objective on shares of RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. Finally, Susquehanna increased their price objective on shares of RXO from $14.00 to $18.00 and gave the company a “negative” rating in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.08.

RXO Price Performance

The company has a market capitalization of $4.70 billion, a P/E ratio of -46.69, a price-to-earnings-growth ratio of 30.26 and a beta of 2.08. The company’s 50-day moving average price is $21.32 and its two-hundred day moving average price is $16.78. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.27 and a quick ratio of 1.27.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the firm earned ($0.03) earnings per share. The company’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts expect that Rxo Inc will post 0.06 EPS for the current year.

Institutional Trading of RXO

Several hedge funds and other institutional investors have recently bought and sold shares of RXO. Finepoint Capital LP acquired a new position in shares of RXO in the 3rd quarter valued at approximately $111,764,000. Public Sector Pension Investment Board raised its position in shares of RXO by 31.6% in 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 in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of RXO by 20.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,110,413 shares of the company’s stock valued at $14,036,000 after buying an additional 190,583 shares in the last quarter. Vanguard Group Inc. raised its position in shares of RXO by 1.4% in 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 in the last quarter. Finally, Picton Mahoney Asset Management raised its position in shares of RXO by 5,711.5% in the 3rd quarter. Picton Mahoney Asset Management now owns 290,577 shares of the company’s stock valued at $4,470,000 after buying an additional 285,577 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

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.