Douglas Lane & Associates LLC reduced its stake in shares of Rxo Inc (NYSE:RXO – Free Report) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,317,039 shares of the company’s stock after selling 29,303 shares during the quarter. Douglas Lane & Associates LLC owned 2.01% of RXO worth $67,867,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC bought a new stake in RXO during the first quarter worth about $29,000. City Holding Co. lifted its holdings in shares of 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 during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of RXO by 18.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,196 shares of the company’s stock worth $61,000 after acquiring an additional 649 shares during the period. Nykredit A S acquired a new stake in shares of RXO during the 2nd quarter worth approximately $67,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of RXO by 47.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,287 shares of the company’s stock worth $92,000 after acquiring an additional 2,019 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on RXO shares. TD Cowen upgraded shares of RXO from a “sell” rating to a “hold” rating and boosted their price objective for the company from $17.50 to $30.25 in a research report on Monday. JPMorgan Chase & Co. upgraded RXO from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $22.00 to $30.00 in a research note on Tuesday. William Blair set a $30.00 price target on RXO in a report on Friday, August 7th. Barclays upped their price objective on RXO from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Finally, Citigroup raised their price objective on RXO from $23.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, RXO currently has a consensus rating of “Hold” and an average price target of $26.08.
RXO Trading Up 0.4%
Shares of RXO stock traded up $0.11 during mid-day trading on Friday, reaching $29.04. 516,649 shares of the stock traded hands, compared to its average volume of 2,332,892. Rxo Inc has a 1-year low of $10.43 and a 1-year high of $29.90. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.30. The company has a market cap of $4.79 billion, a price-to-earnings ratio of -47.58 and a beta of 2.10. The stock’s fifty day simple moving average is $21.58 and its two-hundred day simple moving average is $22.25.
RXO (NYSE:RXO – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. RXO had a negative net margin of 1.72% and a negative return on equity of 0.98%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business earned $0.04 EPS. The company’s revenue was up 25.0% compared to the same quarter last year. On average, research analysts anticipate that Rxo Inc will post 0.14 EPS for the current fiscal year.
RXO Company Profile
RXO, Inc is a transportation services company that provides asset-light freight brokerage and logistics solutions. The company connects shippers with independent carriers and helps coordinate the movement of truckload, less-than-truckload and other freight across North America.
RXO’s services include digital freight brokerage, managed transportation and last-mile logistics. Its brokerage business uses technology and carrier relationships to match customer shipments with available transportation capacity, while its managed transportation offerings help companies plan, coordinate and optimize freight operations.
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