Cibc World Markets Corp Makes New $356,000 Investment in RXO, Inc. (NYSE:RXO)

Cibc World Markets Corp bought a new stake in shares of RXO, Inc. (NYSE:RXO) during the fourth quarter, HoldingsChannel reports. The firm bought 14,926 shares of the company’s stock, valued at approximately $356,000.

A number of other hedge funds have also recently modified their holdings of RXO. State Street Corp boosted its stake in RXO by 13.3% during the third quarter. State Street Corp now owns 5,124,927 shares of the company’s stock worth $143,498,000 after acquiring an additional 602,741 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of RXO by 16.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company’s stock worth $85,563,000 after purchasing an additional 441,994 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of RXO by 27.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,375,410 shares of the company’s stock worth $56,629,000 after purchasing an additional 508,330 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of RXO by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company’s stock worth $51,138,000 after buying an additional 76,653 shares during the last quarter. Finally, Fred Alger Management LLC increased its position in RXO by 31.9% during the 3rd quarter. Fred Alger Management LLC now owns 1,751,114 shares of the company’s stock valued at $49,031,000 after buying an additional 423,822 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RXO shares. Stifel Nicolaus cut their target price on RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Morgan Stanley reduced their price objective on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company cut their price target on shares of RXO from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group decreased their price objective on shares of RXO from $33.00 to $30.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, The Goldman Sachs Group cut their target price on RXO from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, RXO currently has an average rating of “Hold” and an average price target of $25.80.

RXO Trading Up 2.7 %

RXO stock opened at $19.09 on Tuesday. The business has a 50-day simple moving average of $21.80 and a two-hundred day simple moving average of $25.39. RXO, Inc. has a 52-week low of $17.50 and a 52-week 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 market cap of $3.12 billion, a P/E ratio of -9.00, a P/E/G ratio of 4.55 and a beta of 1.67.

RXO (NYSE:RXO) last announced its earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. Analysts predict that RXO, Inc. will post 0.31 EPS for the current year.

RXO Profile

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.