RXO (NYSE:RXO – Get Free Report) was downgraded by investment analysts at Citizens Jmp from an “outperform” rating to a “market perform” rating in a report released on Thursday, MarketBeat Ratings reports.
RXO has been the topic of a number of other reports. Barclays increased their price target on RXO from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Wells Fargo & Company boosted their target price on shares of RXO from $23.00 to $30.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 6th. Truist Financial increased their target price on shares of RXO from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 7th. Susquehanna raised shares of RXO from a “negative” rating to a “neutral” rating and cut their target price for the stock from $20.00 to $19.00 in a research note on Wednesday, September 23rd. Finally, Citigroup cut shares of RXO from a “neutral” rating to a “market perform” rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.08.
RXO Stock Performance
RXO (NYSE:RXO – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate 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 company 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 firm posted $0.04 earnings per share. The business’s quarterly revenue was up 25.0% on a year-over-year basis. Equities research analysts forecast that RXO will post 0.14 EPS for the current year.
Institutional Investors Weigh In On RXO
Several hedge funds and other institutional investors have recently modified their holdings of RXO. Intrinsic Edge Capital Management LLC purchased a new stake in RXO in the 1st quarter worth approximately $3,655,000. Sei Investments Co. grew its position in shares of RXO by 71.7% during the 1st quarter. Sei Investments Co. now owns 133,339 shares of the company’s stock valued at $1,949,000 after purchasing an additional 55,680 shares in the last quarter. Fifth Third Bancorp grew its position in shares of RXO by 21,691.7% during the 1st quarter. Fifth Third Bancorp now owns 146,222 shares of the company’s stock valued at $2,138,000 after purchasing an additional 145,551 shares in the last quarter. Bank of America Corp DE grew its position in shares of RXO by 128.6% during the 1st quarter. Bank of America Corp DE now owns 724,060 shares of the company’s stock valued at $10,586,000 after purchasing an additional 407,285 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. bought a new position in shares of RXO in the second quarter worth $71,283,000. 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. 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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