RXO (NYSE:RXO) Given “Equal Weight” Rating at Stephens

Stephens restated their equal weight rating on shares of RXO (NYSE:RXO) in a research note published on Monday morning, Benzinga reports. They currently have a $22.00 target price on the stock.

RXO has been the topic of a number of other reports. Benchmark reaffirmed a hold rating on shares of RXO in a research report on Friday, April 19th. Bank of America downgraded shares of RXO from a buy rating to a neutral rating and dropped their price target for the stock from $25.00 to $22.00 in a research note on Thursday, February 8th. Stifel Nicolaus lifted their price objective on RXO from $20.00 to $22.00 and gave the company a hold rating in a research report on Wednesday, January 10th. Oppenheimer dropped their target price on RXO from $23.00 to $22.00 and set an outperform rating on the stock in a research report on Tuesday, February 13th. Finally, Susquehanna lifted their price target on RXO from $15.00 to $16.00 and gave the company a negative rating in a report on Monday, March 25th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, RXO presently has an average rating of Hold and an average target price of $20.55.

RXO Price Performance

RXO opened at $20.72 on Monday. The firm has a market capitalization of $2.44 billion, a P/E ratio of -230.22, a PEG ratio of 7.91 and a beta of 1.24. The stock has a fifty day moving average of $20.55 and a 200-day moving average of $20.93. The company has a quick ratio of 1.17, a current ratio of 1.14 and a debt-to-equity ratio of 0.60. RXO has a 12-month low of $16.94 and a 12-month high of $24.33.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. The firm had revenue of $913.00 million during the quarter, compared to the consensus estimate of $929.50 million. During the same period in the prior year, the business earned $0.11 EPS. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. Equities analysts forecast that RXO will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Mfn Partners, Lp purchased 5,139 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were bought at an average price of $20.39 per share, with a total value of $104,784.21. Following the completion of the transaction, the insider now directly owns 15,593,694 shares in the company, valued at approximately $317,955,420.66. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders purchased 1,127,999 shares of company stock valued at $22,097,846 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RXO

A number of institutional investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System grew its holdings in RXO by 225.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 108,847 shares of the company’s stock valued at $2,380,000 after buying an additional 75,395 shares during the last quarter. Motley Fool Asset Management LLC boosted its position in shares of RXO by 287.9% in the first quarter. Motley Fool Asset Management LLC now owns 1,582,324 shares of the company’s stock valued at $34,605,000 after acquiring an additional 1,174,361 shares during the period. ProShare Advisors LLC grew its stake in shares of RXO by 7.1% in the first quarter. ProShare Advisors LLC now owns 24,251 shares of the company’s stock worth $530,000 after acquiring an additional 1,612 shares during the last quarter. Russell Investments Group Ltd. increased its position in RXO by 10.6% during the first quarter. Russell Investments Group Ltd. now owns 315,067 shares of the company’s stock worth $6,891,000 after acquiring an additional 30,198 shares during the period. Finally, Illinois Municipal Retirement Fund increased its position in RXO by 0.8% during the first quarter. Illinois Municipal Retirement Fund now owns 69,190 shares of the company’s stock worth $1,513,000 after acquiring an additional 543 shares during the period. 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.