Stephens Reaffirms “Equal Weight” Rating for RXO (NYSE:RXO)

Stephens reissued their equal weight rating on shares of RXO (NYSE:RXO) in a research note issued to investors on Monday, Benzinga reports. The firm currently has a $22.00 price objective on the stock.

Several other equities research analysts have also commented on RXO. Vertical Research lowered RXO from a buy rating to a hold rating and set a $23.00 target price on the stock. in a research report on Wednesday, January 10th. Susquehanna lifted their price objective on shares of RXO from $15.00 to $16.00 and gave the company a negative rating in a research note on Monday, March 25th. Benchmark reissued a hold rating on shares of RXO in a research note on Friday, April 19th. Bank of America lowered shares of RXO from a buy rating to a neutral rating and dropped their price objective for the company from $25.00 to $22.00 in a report on Thursday, February 8th. Finally, Oppenheimer reduced their target price on RXO from $23.00 to $22.00 and set an outperform rating for the company in a research note on Tuesday, February 13th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $20.55.

RXO Stock Down 1.3 %

RXO stock opened at $20.46 on Monday. The firm has a 50 day moving average price of $20.56 and a two-hundred day moving average price of $20.93. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.14. RXO has a 52-week low of $16.94 and a 52-week high of $24.33. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -227.33, a PEG ratio of 7.91 and a beta of 1.24.

RXO (NYSE:RXO) last announced its earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $913.00 million during the quarter, compared to the consensus estimate of $929.50 million. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. RXO’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. Equities analysts predict that RXO will post 0.2 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Mfn Partners, Lp bought 5,139 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were bought at an average price of $20.39 per share, for a total transaction of $104,784.21. Following the completion of the acquisition, the insider now directly owns 15,593,694 shares of the company’s stock, valued at $317,955,420.66. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders purchased 1,127,999 shares of company stock valued at $22,097,846. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of RXO

Institutional investors and hedge funds have recently made changes to their positions in the company. Illinois Municipal Retirement Fund grew its position in RXO by 0.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 69,190 shares of the company’s stock worth $1,513,000 after purchasing an additional 543 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of RXO by 1.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock valued at $1,231,000 after acquiring an additional 820 shares in the last quarter. Rhumbline Advisers increased its position in shares of RXO by 0.3% during the third quarter. Rhumbline Advisers now owns 353,816 shares of the company’s stock valued at $6,981,000 after acquiring an additional 905 shares during the last quarter. Hohimer Wealth Management LLC lifted its holdings in RXO by 2.4% during the fourth quarter. Hohimer Wealth Management LLC now owns 46,405 shares of the company’s stock worth $1,079,000 after acquiring an additional 1,109 shares during the period. Finally, GAMMA Investing LLC purchased a new position in RXO in the fourth quarter worth $27,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.

About RXO

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.