RXO (NYSE:RXO) Stock Price Down 4.9% – Here’s What Happened

Rxo Inc (NYSE:RXO) dropped 4.9% during trading on Wednesday . The company traded as low as $25.97 and last traded at $25.8650. Approximately 82,651 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 2,380,426 shares. The stock had previously closed at $27.21.

Analysts Set New Price Targets

Several brokerages have issued reports on RXO. Wall Street Zen upgraded shares of RXO from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. UBS Group increased their target price on shares of RXO from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Truist Financial increased their target price on shares of RXO from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Citigroup increased their target price on shares of RXO from $17.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $18.00 target price on shares of RXO in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.08.

RXO Trading Down 3.4%

The firm has a market capitalization of $4.34 billion, a PE ratio of -43.10, a price-to-earnings-growth ratio of 29.42 and a beta of 2.08. The company’s 50-day simple moving average is $21.82 and its 200 day simple moving average is $17.02. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.28.

RXO (NYSE:RXO) last announced 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 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 was down .6% on a year-over-year basis. During the same period last year, the firm posted ($0.03) EPS. As a group, sell-side analysts expect that Rxo Inc will post 0.06 EPS for the current year.

Hedge Funds Weigh In On RXO

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its position in shares of RXO by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,543 shares of the company’s stock valued at $475,000 after purchasing an additional 600 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in RXO by 18.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 4,196 shares of the company’s stock worth $61,000 after buying an additional 649 shares during the period. Jones Financial Companies Lllp increased its holdings in RXO by 27.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,298 shares of the company’s stock worth $49,000 after buying an additional 701 shares during the period. Oppenheimer & Co. Inc. increased its holdings in RXO by 1.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 49,406 shares of the company’s stock worth $624,000 after buying an additional 724 shares during the period. Finally, ProShare Advisors LLC increased its holdings in RXO by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 31,634 shares of the company’s stock worth $400,000 after buying an additional 972 shares during the period. 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.