Wells Fargo & Company Lowers RXO (NYSE:RXO) Price Target to $15.00

RXO (NYSE:RXO) had its target price reduced by equities researchers at Wells Fargo & Company from $20.00 to $15.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 3.52% from the company’s previous close.

A number of other research firms have also weighed in on RXO. Truist Financial lowered their target price on shares of RXO from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft initiated coverage on RXO in a report on Friday, March 7th. They issued a “hold” rating and a $19.00 target price on the stock. Citigroup decreased their price target on RXO from $23.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Oppenheimer cut RXO from an “outperform” rating to a “market perform” rating in a research note on Friday, April 4th. Finally, Barclays reduced their target price on shares of RXO from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, RXO presently has a consensus rating of “Hold” and a consensus price target of $19.93.

RXO Stock Up 0.4 %

Shares of NYSE:RXO opened at $14.49 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. RXO has a 52-week low of $12.19 and a 52-week high of $32.82. The business’s 50 day simple moving average is $16.00 and its two-hundred day simple moving average is $22.31. The firm has a market cap of $2.38 billion, a P/E ratio of -6.83, a PEG ratio of 4.55 and a beta of 1.71.

RXO (NYSE:RXO) last issued its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the business earned ($0.03) earnings per share. RXO’s revenue for the quarter was up 57.0% on a year-over-year basis. As a group, research analysts forecast that RXO will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On RXO

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in RXO by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock worth $410,137,000 after purchasing an additional 2,009,937 shares in the last quarter. Norges Bank purchased a new stake in shares of RXO in the fourth quarter worth $28,342,000. Franklin Resources Inc. boosted its stake in RXO by 122.6% during the fourth quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company’s stock valued at $39,971,000 after buying an additional 923,307 shares during the period. Douglas Lane & Associates LLC increased its stake in RXO by 34.3% in the 1st quarter. Douglas Lane & Associates LLC now owns 3,591,040 shares of the company’s stock worth $68,589,000 after acquiring an additional 916,379 shares during the last quarter. Finally, FIL Ltd raised its holdings in shares of RXO by 10.4% in the 4th quarter. FIL Ltd now owns 6,327,889 shares of the company’s stock valued at $150,857,000 after acquiring an additional 596,158 shares in the last quarter. 92.73% of the stock is 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.