RXO (NYSE:RXO) Hits New 52-Week High – Still a Buy?

Rxo Inc (NYSE:RXO) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $25.20 and last traded at $24.86, with a volume of 74227 shares. The stock had previously closed at $24.37.

Analysts Set New Price Targets

Several analysts recently weighed in on RXO shares. Bank of America cut their price target on shares of RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, March 25th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $18.00 price target on shares of RXO in a report on Friday, May 8th. Weiss Ratings cut shares of RXO from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. Citigroup lifted their price target on shares of RXO from $17.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Wells Fargo & Company lifted their price target on shares of RXO from $15.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.08.

RXO Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.27. The business has a 50-day moving average price of $17.54 and a 200 day moving average price of $15.32. The stock has a market capitalization of $4.13 billion, a P/E ratio of -41.10, a PEG ratio of 25.87 and a beta of 1.96.

RXO (NYSE:RXO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations 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 was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) EPS. As a group, sell-side analysts forecast that Rxo Inc will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On RXO

A number of hedge funds have recently bought and sold shares of the company. Orbis Allan Gray Ltd boosted its stake in RXO by 6.5% in the 4th quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock worth $438,327,000 after purchasing an additional 2,104,597 shares in the last quarter. Vanguard Group Inc. lifted its position in RXO by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 17,309,811 shares of the company’s stock valued at $218,796,000 after acquiring an additional 93,130 shares in the last quarter. Wellington Management Group LLP lifted its position in RXO by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock valued at $153,780,000 after acquiring an additional 735,810 shares in the last quarter. Finepoint Capital LP purchased a new stake in RXO during the 3rd quarter valued at $111,764,000. Finally, State Street Corp boosted its stake in RXO by 3.7% during 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 last quarter. 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.