RXO (NYSE:RXO) Stock Price Expected to Rise, Truist Financial Analyst Says

RXO (NYSE:RXO) had its target price lifted by analysts at Truist Financial from $26.00 to $30.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 6.86% from the stock’s previous close.

RXO has been the subject of several other reports. Stephens upgraded shares of RXO to a “hold” rating in a research note on Wednesday, July 8th. Susquehanna lifted their target price on shares of RXO from $18.00 to $20.00 and gave the company a “negative” rating in a report on Tuesday. Citigroup started coverage on shares of RXO in a research report on Wednesday. They set a “market perform” rating for the company. Citizens Jmp initiated coverage on RXO in a report on Wednesday. They issued a “market perform” rating for the company. Finally, Wall Street Zen raised RXO from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.43.

RXO Price Performance

RXO opened at $28.07 on Wednesday. The company’s 50 day simple moving average is $25.27 and its 200 day simple moving average is $18.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.27. RXO has a 1 year low of $10.43 and a 1 year high of $29.86. The stock has a market capitalization of $4.63 billion, a PE ratio of -46.02 and a beta of 2.03.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. RXO’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) earnings per share. As a group, sell-side analysts expect that RXO will post 0.08 EPS for the current year.

Hedge Funds Weigh In On RXO

A number of institutional investors have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in RXO in the 4th quarter valued at about $25,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of RXO during the first quarter worth about $29,000. Geneos Wealth Management Inc. acquired a new position in shares of RXO in the first quarter worth about $30,000. Quarry LP acquired a new position in shares of RXO in the third quarter worth about $33,000. Finally, City Holding Co. boosted its holdings in RXO by 227.6% in the second quarter. City Holding Co. now owns 1,245 shares of the company’s stock valued at $34,000 after purchasing an additional 865 shares during the last quarter. Institutional investors and hedge funds 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.