Shares of Rxo Inc (NYSE:RXO – Get Free Report) traded down 4.9% during trading on Wednesday . The stock traded as low as $25.97 and last traded at $25.8650. Approximately 82,651 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 2,380,426 shares. The stock had previously closed at $27.21.
Analyst Ratings Changes
RXO has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of RXO from $15.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Bank of America dropped their price objective on RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. The Goldman Sachs Group restated a “neutral” rating and set a $18.00 price objective on shares of RXO in a report on Friday, May 8th. Susquehanna lifted their target price on RXO from $14.00 to $18.00 and gave the company a “negative” rating in a research report on Friday, May 8th. Finally, Barclays increased their price target on RXO from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.08.
Read Our Latest Stock Analysis on RXO
RXO Trading Up 2.4%
RXO (NYSE:RXO – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company earned ($0.03) earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts expect that Rxo Inc will post 0.06 EPS for the current year.
Institutional Investors Weigh In On RXO
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in shares of RXO by 14.3% during the first quarter. Royal Bank of Canada now owns 23,251 shares of the company’s stock worth $444,000 after acquiring an additional 2,902 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of RXO by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,940 shares of the company’s stock valued at $1,813,000 after acquiring an additional 4,134 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of RXO in the 1st quarter valued at approximately $30,000. Strs Ohio purchased a new position in shares of RXO in the 1st quarter valued at approximately $97,000. Finally, Quantbot Technologies LP acquired a new stake in RXO in the 2nd quarter worth approximately $245,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.
RXO Company Profile
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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