Wells Fargo & Company Lowers RXO (NYSE:RXO) Price Target to $28.00

RXO (NYSE:RXO) had its price objective decreased by equities research analysts at Wells Fargo & Company from $31.00 to $28.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 11.24% from the company’s previous close.

RXO has been the subject of a number of other research reports. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Tuesday, October 15th. Citigroup downgraded RXO from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research note on Tuesday, November 12th. Susquehanna reduced their target price on shares of RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research note on Tuesday, November 12th. Oppenheimer restated an “outperform” rating and issued a $31.00 price objective on shares of RXO in a research note on Tuesday, September 17th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $29.00 price target on shares of RXO in a research report on Monday, November 18th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, RXO has a consensus rating of “Hold” and a consensus target price of $26.27.

RXO Stock Performance

Shares of RXO stock traded down $0.56 on Tuesday, hitting $25.17. 129,976 shares of the stock traded hands, compared to its average volume of 729,513. The company’s fifty day moving average is $27.43 and its 200 day moving average is $27.80. RXO has a 1-year low of $18.75 and a 1-year high of $32.82. The company has a market capitalization of $4.05 billion, a PE ratio of -12.71, a PEG ratio of 15.82 and a beta of 1.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.33.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. During the same period in the prior year, the business earned $0.05 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. On average, equities research analysts predict that RXO will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RXO

A number of institutional investors have recently bought and sold shares of the business. MFN Partners Management LP boosted its stake in shares of RXO by 11.0% during the 2nd quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock worth $452,679,000 after acquiring an additional 1,722,301 shares during the period. State Street Corp raised its position in shares of RXO by 13.3% in the third quarter. State Street Corp now owns 5,124,927 shares of the company’s stock valued at $143,498,000 after purchasing an additional 602,741 shares during the period. Geode Capital Management LLC boosted its holdings in shares of RXO by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company’s stock worth $85,563,000 after buying an additional 441,994 shares during the period. Charles Schwab Investment Management Inc. increased its position in RXO by 7.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,068,380 shares of the company’s stock worth $57,915,000 after buying an additional 136,886 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of RXO by 9.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,032,929 shares of the company’s stock worth $53,153,000 after purchasing an additional 176,041 shares in the last quarter. Institutional investors and hedge funds 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.