The Goldman Sachs Group Cuts RXO (NYSE:RXO) Price Target to $18.00

RXO (NYSE:RXO) had its price target decreased by The Goldman Sachs Group from $21.00 to $18.00 in a report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other analysts also recently issued reports about the stock. Wells Fargo & Company cut their price target on shares of RXO from $20.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday. Barclays reduced their price target on shares of RXO from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Jefferies Financial Group lowered their price objective on shares of RXO from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Stifel Nicolaus reduced their target price on RXO from $24.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Citigroup dropped their price target on RXO from $23.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.93.

RXO Stock Performance

Shares of NYSE:RXO opened at $14.49 on Thursday. The business has a fifty day moving average of $16.00 and a 200-day moving average of $22.26. The firm has a market cap of $2.38 billion, a PE ratio of -6.83, a price-to-earnings-growth ratio of 4.55 and a beta of 1.71. 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 twelve month low of $12.19 and a twelve month high of $32.82.

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

Hedge Funds Weigh In On RXO

A number of hedge funds have recently added to or reduced their stakes in RXO. Vanguard Group Inc. raised its position in RXO by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock valued at $410,137,000 after buying an additional 2,009,937 shares during the last quarter. FIL Ltd grew its stake in shares of RXO by 10.4% in the 4th quarter. FIL Ltd now owns 6,327,889 shares of the company’s stock worth $150,857,000 after acquiring an additional 596,158 shares in the last quarter. Douglas Lane & Associates LLC raised its holdings in shares of RXO by 34.3% in the first quarter. Douglas Lane & Associates LLC now owns 3,591,040 shares of the company’s stock valued at $68,589,000 after purchasing an additional 916,379 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of RXO by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company’s stock valued at $80,185,000 after purchasing an additional 307,492 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in RXO by 15.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,730,665 shares of the company’s stock worth $52,155,000 after purchasing an additional 355,255 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

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.