RXO (NYSE:RXO) Cut to “Market Perform” at Oppenheimer

Oppenheimer downgraded shares of RXO (NYSE:RXO) from an outperform rating to a market perform rating in a research report released on Friday morning, MarketBeat reports.

A number of other brokerages have also weighed in on RXO. Susquehanna decreased their price objective on RXO from $18.00 to $13.00 and set a “negative” rating on the stock in a report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of RXO in a research note on Friday, March 7th. They issued a “hold” rating and a $19.00 price target on the stock. Stifel Nicolaus lowered their price target on shares of RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group cut their price objective on shares of RXO from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Finally, Wells Fargo & Company lowered their target price on RXO from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.80.

RXO Stock Down 8.4 %

RXO opened at $14.44 on Friday. The company has a market cap of $2.37 billion, a PE ratio of -6.81, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60. RXO has a twelve month low of $13.77 and a twelve month high of $32.82. The company has a 50-day moving average price of $20.49 and a 200 day moving average price of $24.89. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund raised its stake in shares of RXO by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company’s stock valued at $783,000 after acquiring an additional 500 shares during the period. Blue Trust Inc. grew its holdings in shares of RXO by 79.7% in the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock valued at $27,000 after purchasing an additional 510 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in RXO by 1.8% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company’s stock worth $712,000 after buying an additional 518 shares during the period. Mutual of America Capital Management LLC increased its stake in RXO by 2.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company’s stock worth $505,000 after buying an additional 551 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted 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 worth $39,000 after buying an additional 570 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

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.