RXO (NYSE:RXO) Raised to “Overweight” at Morgan Stanley

RXO (NYSE:RXO) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday, Marketbeat.com reports. The brokerage presently has a $19.00 price objective on the stock. Morgan Stanley’s price target points to a potential upside of 53.54% from the stock’s current price.

Several other brokerages also recently weighed in on RXO. JPMorgan Chase & Co. upped their target price on shares of RXO from $15.00 to $16.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 8th. Stifel Nicolaus boosted their price target on shares of RXO from $14.00 to $17.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Susquehanna cut their price objective on RXO from $11.00 to $10.00 and set a “negative” rating on the stock in a research report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RXO in a report on Wednesday, October 8th. Finally, Wall Street Zen cut RXO from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.69.

RXO Price Performance

RXO opened at $12.38 on Tuesday. The stock’s 50-day moving average price is $16.46 and its 200 day moving average price is $16.01. RXO has a 12-month low of $11.37 and a 12-month high of $31.11. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -28.78, a PEG ratio of 19.26 and a beta of 1.67. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.24.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.44 billion. RXO had a positive return on equity of 0.88% and a negative net margin of 1.25%.The firm’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share. As a group, sell-side analysts expect that RXO will post 0.31 earnings per share for the current year.

Insider Buying and Selling at RXO

In other news, CEO Andrew M. Wilkerson acquired 7,775 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average cost of $12.88 per share, with a total value of $100,142.00. Following the transaction, the chief executive officer owned 7,775 shares in the company, valued at approximately $100,142. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas A. Szlosek bought 20,308 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average cost of $12.37 per share, for a total transaction of $251,209.96. Following the acquisition, the director directly owned 36,508 shares of the company’s stock, valued at $451,603.96. The trade was a 125.36% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 31,933 shares of company stock valued at $400,632. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Picton Mahoney Asset Management raised its position in shares of RXO by 5,711.5% during the 3rd quarter. Picton Mahoney Asset Management now owns 290,577 shares of the company’s stock worth $4,470,000 after acquiring an additional 285,577 shares in the last quarter. First Eagle Investment Management LLC increased its stake in RXO by 8.2% in the third quarter. First Eagle Investment Management LLC now owns 343,975 shares of the company’s stock valued at $5,290,000 after purchasing an additional 26,000 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in RXO by 280.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 138,817 shares of the company’s stock valued at $2,135,000 after purchasing an additional 102,337 shares during the last quarter. Victory Capital Management Inc. raised its holdings in RXO by 1,347.3% during the third quarter. Victory Capital Management Inc. now owns 397,828 shares of the company’s stock worth $6,119,000 after purchasing an additional 370,341 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of RXO by 33.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 48,400 shares of the company’s stock worth $744,000 after buying an additional 12,100 shares during the last quarter. Hedge funds and other institutional investors 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.