RXO (NYSE:RXO) Earns Buy Rating from Analysts at Truist Financial

Truist Financial started coverage on shares of RXO (NYSE:RXO) in a research report released on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $24.00 price target on the stock.

Several other research firms have also recently weighed in on RXO. Benchmark reiterated a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. The Goldman Sachs Group cut their target price on shares of RXO from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Jefferies Financial Group cut their target price on shares of RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of RXO in a research note on Friday, March 7th. They set a “hold” rating and a $19.00 target price on the stock. Finally, Stifel Nicolaus cut their target price on shares of RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.80.

RXO Trading Up 1.5 %

RXO opened at $18.51 on Thursday. RXO has a twelve month low of $17.50 and a twelve month high of $32.82. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average of $22.55 and a 200-day moving average of $25.80. The stock has a market cap of $3.02 billion, a PE ratio of -8.73, a price-to-earnings-growth ratio of 4.55 and a beta of 1.67.

RXO (NYSE:RXO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. On average, sell-side analysts predict that RXO will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Amalgamated Bank lifted its position in shares of RXO by 12.8% during the third quarter. Amalgamated Bank now owns 40,481 shares of the company’s stock valued at $1,133,000 after purchasing an additional 4,609 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of RXO by 11.3% during the third quarter. Principal Financial Group Inc. now owns 650,222 shares of the company’s stock valued at $18,206,000 after purchasing an additional 66,159 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of RXO by 1,772.4% during the third quarter. Victory Capital Management Inc. now owns 761,230 shares of the company’s stock valued at $21,314,000 after purchasing an additional 720,574 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of RXO by 31.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 33,513 shares of the company’s stock valued at $938,000 after purchasing an additional 7,976 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in shares of RXO by 5.7% during the third quarter. Oppenheimer & Co. Inc. now owns 28,245 shares of the company’s stock valued at $791,000 after purchasing an additional 1,520 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

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.