Wells Fargo & Company Lowers RXO (NYSE:RXO) Price Target to $20.00

RXO (NYSE:RXO) had its price target cut by Wells Fargo & Company from $22.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 6.03% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. Barclays cut their price objective on RXO from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Benchmark reissued a “hold” rating on shares of RXO in a report on Wednesday, January 15th. Susquehanna decreased their price objective on shares of RXO from $18.00 to $13.00 and set a “negative” rating for the company in a report on Wednesday. Jefferies Financial Group dropped 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of RXO in a research report on Friday, March 7th. They set a “hold” rating and a $19.00 target price for the company. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, RXO currently has a consensus rating of “Hold” and an average target price of $25.33.

RXO Stock Performance

NYSE RXO opened at $18.86 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33. The company has a fifty day moving average price of $21.31 and a 200-day moving average price of $25.19. RXO has a 1 year low of $17.50 and a 1 year high of $32.82. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -8.90, a PEG 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 EPS for the quarter, meeting the consensus estimate of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. As a group, equities research analysts predict that RXO will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On RXO

Large investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of RXO in the third quarter worth $28,000. Blue Trust Inc. boosted its holdings in shares of RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock worth $27,000 after purchasing an additional 510 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of RXO by 228.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company’s stock worth $30,000 after purchasing an additional 868 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in RXO by 68.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after purchasing an additional 570 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in RXO by 407.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company’s stock valued at $43,000 after purchasing an additional 1,445 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Company 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.