Shares of Rxo Inc (NYSE:RXO – Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $29.86 and last traded at $28.8330, with a volume of 2981729 shares changing hands. The stock had previously closed at $29.12.
Analyst Ratings Changes
A number of brokerages recently issued reports on RXO. Truist Financial boosted their price target on RXO from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wall Street Zen raised RXO from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Barclays upped their price target on RXO from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings raised RXO from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th. Finally, TD Cowen upped their price target on RXO from $14.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.08.
Get Our Latest Research Report on RXO
RXO Price Performance
RXO (NYSE:RXO – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the company posted ($0.03) EPS. RXO’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts anticipate that Rxo Inc will post 0.06 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in RXO. Finepoint Capital LP purchased a new position in shares of RXO during the 3rd quarter worth approximately $111,764,000. Orbis Allan Gray Ltd grew its holdings in shares of RXO by 6.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock worth $438,327,000 after acquiring an additional 2,104,597 shares during the period. Franklin Resources Inc. grew its holdings in shares of RXO by 91.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company’s stock worth $35,818,000 after acquiring an additional 1,110,530 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in shares of RXO during the 4th quarter worth approximately $11,224,000. Finally, Wellington Management Group LLP grew its holdings in shares of RXO by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock worth $153,780,000 after acquiring an additional 735,810 shares during the period. Hedge funds and other 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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