RXO (NYSE:RXO) Sets New 1-Year High at $30.86

RXO, Inc. (NYSE:RXO)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $30.86 and last traded at $30.74, with a volume of 333986 shares changing hands. The stock had previously closed at $29.23.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Stephens reiterated an “equal weight” rating and set a $22.00 target price on shares of RXO in a research report on Monday, May 6th. Benchmark reissued a “hold” rating on shares of RXO in a research report on Wednesday, June 12th. Barclays boosted their target price on shares of RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. increased their price target on shares of RXO from $16.00 to $25.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 9th. Finally, Raymond James started coverage on shares of RXO in a report on Wednesday, May 15th. They issued a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, RXO currently has an average rating of “Hold” and a consensus price target of $22.00.

RXO Trading Up 4.2 %

The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average of $23.64 and a two-hundred day moving average of $21.96.

RXO (NYSE:RXO) last posted its earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $913.00 million during the quarter, compared to the consensus estimate of $929.50 million. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. Equities research analysts predict that RXO, Inc. will post 0.17 EPS for the current year.

Insider Activity at RXO

In other RXO news, major shareholder Mfn Partners, Lp purchased 105,065 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $20.07 per share, for a total transaction of $2,108,654.55. Following the completion of the purchase, the insider now directly owns 17,280,434 shares of the company’s stock, valued at $346,818,310.38. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders purchased a total of 105,487 shares of company stock worth $2,117,263 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RXO. Louisiana State Employees Retirement System lifted its stake in shares of RXO by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 59,100 shares of the company’s stock valued at $1,545,000 after acquiring an additional 1,100 shares during the period. Kirr Marbach & Co. LLC IN grew its holdings in shares of RXO by 1.6% in the 2nd quarter. Kirr Marbach & Co. LLC IN now owns 189,689 shares of the company’s stock valued at $4,960,000 after buying an additional 2,929 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of RXO by 1,459.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,628,080 shares of the company’s stock worth $42,574,000 after purchasing an additional 1,523,650 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in RXO by 14.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,095 shares of the company’s stock worth $316,000 after purchasing an additional 1,513 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of RXO by 1,407.4% during the second quarter. SG Americas Securities LLC now owns 103,993 shares of the company’s stock worth $2,719,000 after acquiring an additional 97,094 shares during the period. Institutional investors own 92.73% of the company’s stock.

About RXO

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.