Rxo Inc (NYSE:RXO – Get Free Report)’s share price was down 8% on Monday . The company traded as low as $23.76 and last traded at $23.5870. 475,528 shares were traded during trading, a decline of 79% from the average daily volume of 2,260,044 shares. The stock had previously closed at $25.63.
Analyst Upgrades and Downgrades
RXO has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of RXO from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research raised RXO from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. BMO Capital Markets started coverage on RXO in a research note on Monday, July 13th. They set an “outperform” rating and a $35.00 price target for the company. Wells Fargo & Company increased their price objective on RXO from $15.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, Susquehanna raised their price objective on RXO from $18.00 to $20.00 and gave the company a “negative” rating in a research note on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.57.
Get Our Latest Research Report on RXO
RXO Stock Down 6.9%
RXO (NYSE:RXO – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the business earned ($0.03) EPS. The business’s revenue was down .6% on a year-over-year basis. Equities analysts anticipate that Rxo Inc will post 0.07 EPS for the current fiscal year.
Hedge Funds Weigh In On RXO
Large investors have recently made changes to their positions in the business. Orbis Allan Gray Ltd raised its position in shares of RXO by 6.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock valued at $438,327,000 after buying an additional 2,104,597 shares during the last quarter. Franklin Resources Inc. grew its position in RXO by 91.2% during the third quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company’s stock worth $35,818,000 after buying an additional 1,110,530 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in RXO during the fourth quarter worth about $11,224,000. Wellington Management Group LLP increased its stake in RXO by 7.9% during the third quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock valued at $153,780,000 after acquiring an additional 735,810 shares during the period. Finally, Kennedy Capital Management LLC acquired a new position in RXO in the 4th quarter valued at approximately $9,098,000. Institutional investors and hedge funds own 92.73% of the company’s stock.
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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