RXO (NYSE:RXO) Research Coverage Started at Raymond James

Raymond James began coverage on shares of RXO (NYSE:RXO) in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm issued a market perform rating on the stock.

A number of other analysts have also commented on the company. Oppenheimer dropped their price target on RXO from $23.00 to $22.00 and set an outperform rating for the company in a research note on Tuesday, February 13th. Benchmark reiterated a hold rating on shares of RXO in a research report on Friday, April 19th. Bank of America downgraded shares of RXO from a buy rating to a neutral rating and decreased their price target for the stock from $25.00 to $22.00 in a research note on Thursday, February 8th. Stephens reaffirmed an equal weight rating and set a $22.00 price objective on shares of RXO in a research report on Monday, May 6th. Finally, Susquehanna increased their target price on RXO from $15.00 to $16.00 and gave the stock a negative rating in a research report on Monday, March 25th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $20.55.

RXO Stock Performance

RXO opened at $20.58 on Wednesday. The company’s fifty day moving average price is $20.56 and its two-hundred day moving average price is $21.05. RXO has a 1-year low of $16.94 and a 1-year high of $24.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.14 and a current ratio of 1.14.

RXO (NYSE:RXO) last posted its earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $913.00 million for the quarter, compared to analysts’ expectations of $929.50 million. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. RXO’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. As a group, equities research analysts expect that RXO will post 0.2 earnings per share for the current year.

Insider Activity

In other news, major shareholder Mfn Partners, Lp purchased 5,139 shares of RXO stock in a transaction that occurred on Friday, April 12th. The stock was bought at an average price of $20.39 per share, with a total value of $104,784.21. Following the completion of the transaction, the insider now directly owns 15,593,694 shares of the company’s stock, valued at $317,955,420.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased 1,128,060 shares of company stock worth $22,099,090 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RXO

A number of large investors have recently made changes to their positions in the company. Comerica Bank boosted its holdings in shares of RXO by 219.0% in the first quarter. Comerica Bank now owns 170,377 shares of the company’s stock worth $3,726,000 after buying an additional 116,974 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of RXO by 0.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 654,337 shares of the company’s stock worth $14,310,000 after purchasing an additional 2,913 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in RXO by 2.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 75,802 shares of the company’s stock worth $1,658,000 after purchasing an additional 1,663 shares during the period. Hood River Capital Management LLC lifted its position in RXO by 14.4% during the first quarter. Hood River Capital Management LLC now owns 1,791,908 shares of the company’s stock valued at $39,189,000 after purchasing an additional 226,032 shares in the last quarter. Finally, Keeley Teton Advisors LLC grew its holdings in RXO by 52.8% during the first quarter. Keeley Teton Advisors LLC now owns 22,270 shares of the company’s stock valued at $487,000 after purchasing an additional 7,698 shares during the period. 92.73% of the stock is currently owned by institutional investors.

RXO Company Profile

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.