RXO (NYSE:RXO) Price Target Cut to $19.00 by Analysts at Truist Financial

RXO (NYSE:RXO) had its target price reduced by Truist Financial from $24.00 to $19.00 in a report released on Thursday, Marketbeat reports. Truist Financial currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on RXO. Barclays cut their target price on RXO from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Jefferies Financial Group cut their price objective on RXO from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of RXO in a research report on Friday, March 7th. They issued a “hold” rating and a $19.00 target price on the stock. Morgan Stanley reduced their price target on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Finally, Stifel Nicolaus lowered their price objective on shares of RXO from $27.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.40.

RXO Stock Up 5.1 %

Shares of RXO opened at $14.09 on Thursday. RXO has a 52-week low of $12.19 and a 52-week high of $32.82. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $17.43 and a two-hundred day simple moving average of $23.44. The company has a market capitalization of $2.31 billion, a PE ratio of -6.64, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. As a group, equities analysts forecast that RXO will post 0.31 EPS for the current year.

Institutional Trading of RXO

Large investors have recently made changes to their positions in the company. Illinois Municipal Retirement Fund increased its position in shares of RXO by 4.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 79,539 shares of the company’s stock valued at $1,519,000 after purchasing an additional 3,236 shares during the last quarter. Kirr Marbach & Co. LLC IN grew its stake in shares of RXO by 1.1% during the first quarter. Kirr Marbach & Co. LLC IN now owns 188,826 shares of the company’s stock worth $3,607,000 after purchasing an additional 2,049 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in RXO by 24.4% in the first quarter. Oppenheimer & Co. Inc. now owns 37,440 shares of the company’s stock valued at $715,000 after buying an additional 7,343 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in RXO by 21.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 45,536 shares of the company’s stock valued at $870,000 after buying an additional 8,080 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in RXO by 15.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,730,665 shares of the company’s stock worth $52,155,000 after buying an additional 355,255 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other 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.