Rxo Inc (NYSE:RXO – Get Free Report) shares shot up 10.8% during trading on Friday . The company traded as high as $19.24 and last traded at $19.4090. 770,429 shares traded hands during trading, a decline of 67% from the average session volume of 2,310,348 shares. The stock had previously closed at $17.51.
Wall Street Analyst Weigh In
RXO has been the subject of a number of recent research reports. UBS Group raised their target price on RXO from $17.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Stifel Nicolaus raised RXO from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Friday. Benchmark reissued a “hold” rating on shares of RXO in a research report on Monday, February 9th. Bank of America decreased their target price on RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. Finally, Zacks Research raised RXO from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, RXO presently has a consensus rating of “Hold” and a consensus target price of $20.08.
Check Out Our Latest Analysis on RXO
RXO Stock Up 8.4%
RXO (NYSE:RXO – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. On average, research analysts forecast that Rxo Inc will post 0.06 earnings per share for the current year.
Institutional Investors Weigh In On RXO
Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in RXO by 11.8% during the third quarter. Principal Financial Group Inc. now owns 791,799 shares of the company’s stock valued at $12,178,000 after buying an additional 83,305 shares during the period. Finepoint Capital LP bought a new stake in RXO during the third quarter valued at $111,764,000. Cornerstone Wealth Group LLC bought a new stake in RXO during the third quarter valued at $4,026,000. Public Sector Pension Investment Board boosted its stake in RXO by 31.6% during the third quarter. Public Sector Pension Investment Board now owns 639,606 shares of the company’s stock valued at $9,837,000 after buying an additional 153,468 shares during the period. Finally, Vanguard Group Inc. boosted its stake in RXO by 1.4% during the third quarter. Vanguard Group Inc. now owns 17,216,681 shares of the company’s stock valued at $264,793,000 after buying an additional 233,434 shares during the period. Institutional investors own 92.73% of the company’s stock.
About RXO
RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.
Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.
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