RXO (NYSE:RXO – Get Free Report) was upgraded by investment analysts at Susquehanna from a “negative” rating to a “neutral” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage presently has a $19.00 price objective on the stock. Susquehanna’s price target would indicate a potential downside of 3.77% from the company’s previous close.
Other research analysts also recently issued reports about the stock. Barclays upped their target price on shares of RXO from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Truist Financial cut their price objective on shares of RXO from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 7th. UBS Group decreased their price objective on shares of RXO from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft set a $30.00 target price on RXO in a research note on Friday, August 7th. Finally, BMO Capital Markets assumed coverage on RXO in a research note on Monday, July 13th. They issued an “outperform” rating and a $35.00 price target on the stock. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, RXO has an average rating of “Hold” and a consensus price target of $23.85.
Read Our Latest Stock Analysis on RXO
RXO Stock Performance
RXO (NYSE:RXO – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. RXO had a negative return on equity of 0.98% and a negative net margin of 1.72%.The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the business earned $0.04 EPS. RXO’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, sell-side analysts forecast that RXO will post 0.14 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. City Holding Co. grew its holdings in RXO by 227.6% during the 2nd quarter. City Holding Co. now owns 1,245 shares of the company’s stock worth $34,000 after acquiring an additional 865 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of RXO in the 1st quarter valued at about $29,000. Nykredit A S acquired a new stake in shares of RXO in the 2nd quarter valued at about $67,000. Public Employees Retirement System of Ohio lifted its position in shares of RXO by 18.3% during the first quarter. Public Employees Retirement System of Ohio now owns 4,196 shares of the company’s stock worth $61,000 after purchasing an additional 649 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of RXO during the second quarter worth about $133,000. 92.73% of the stock is currently owned by institutional investors.
About RXO
RXO Inc is a transportation services company that provides asset-light freight brokerage and logistics solutions. Its platform connects shippers with third-party carriers, helping businesses arrange the movement of truckload, less-than-truckload, expedited and other freight. The company also provides managed transportation services, including shipment planning, carrier sourcing, tracking and logistics coordination.
RXO primarily serves customers across North America, supporting freight movements in the United States, Canada and Mexico.
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