BMO Capital Markets Upgrades RXO (NYSE:RXO) to Strong-Buy

RXO (NYSE:RXO) was upgraded by equities researchers at BMO Capital Markets to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other equities analysts have also commented on RXO. Citigroup began coverage on shares of RXO in a research note on Wednesday. They issued a “market perform” rating for the company. Stifel Nicolaus boosted their target price on shares of RXO from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Monday. Wall Street Zen raised shares of RXO from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded RXO from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. Finally, TD Cowen raised their target price on RXO from $14.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.14.

RXO Price Performance

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

RXO (NYSE:RXO) last released its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, hitting 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 business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted ($0.03) earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts predict that RXO will post 0.08 EPS for the current year.

Institutional Investors Weigh In On RXO

Large investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in RXO by 20.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,110,413 shares of the company’s stock valued at $14,036,000 after acquiring an additional 190,583 shares in the last quarter. Vanguard Group Inc. grew its position in RXO by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 17,309,811 shares of the company’s stock worth $218,796,000 after acquiring an additional 93,130 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in RXO in the fourth quarter worth approximately $11,224,000. Patten Group Inc. acquired a new position in shares of RXO during the 4th quarter worth $404,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of RXO during the 3rd quarter worth $2,084,000. Institutional investors 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.