Barclays Cuts RXO (NYSE:RXO) Price Target to $22.00

RXO (NYSE:RXO) had its target price trimmed by Barclays from $24.00 to $22.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on RXO. Jefferies Financial Group decreased their price objective on RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Stifel Nicolaus lowered their price target on 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 RXO from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Benchmark reaffirmed a “hold” rating on shares of RXO in a report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of RXO in a report on Friday, March 7th. They set a “hold” rating and a $19.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.80.

RXO Stock Performance

RXO opened at $14.44 on Wednesday. The stock’s 50 day simple moving average is $20.49 and its 200-day simple moving average is $24.91. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The stock has a market cap of $2.36 billion, a PE ratio of -6.81, a P/E/G ratio of 4.55 and a beta of 1.67. RXO has a 1 year low of $13.77 and a 1 year high of $32.82.

RXO (NYSE:RXO) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share (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%. Sell-side analysts forecast that RXO will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

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