RXO (NYSE:RXO) Given New $20.00 Price Target at Truist Financial

RXO (NYSE:RXO) had its price target lowered by research analysts at Truist Financial from $22.00 to $20.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 60.45% from the stock’s current price.

Several other brokerages also recently commented on RXO. UBS Group raised their target price on RXO from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Susquehanna lowered their price objective on shares of RXO from $11.00 to $10.00 and set a “negative” rating for the company in a research report on Friday. Stifel Nicolaus boosted their target price on shares of RXO from $14.00 to $17.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Cowen restated a “hold” rating on shares of RXO in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of RXO from $15.00 to $16.00 and gave the company an “underweight” rating in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.85.

RXO Trading Down 8.0%

RXO traded down $1.09 during trading on Friday, hitting $12.47. 3,250,090 shares of the company’s stock were exchanged, compared to its average volume of 1,725,022. RXO has a 1 year low of $12.16 and a 1 year high of $31.11. The stock has a 50 day moving average price of $16.78 and a 200 day moving average price of $16.02. The firm has a market cap of $2.04 billion, a P/E ratio of -5.77, a price-to-earnings-growth ratio of 11.09 and a beta of 1.67. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24.

RXO (NYSE:RXO) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. RXO had a negative net margin of 5.45% and a positive return on equity of 1.18%. The firm’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 earnings per share. As a group, analysts expect that RXO will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On RXO

Hedge funds have recently bought and sold shares of the company. Hodges Capital Management Inc. raised its stake in RXO by 11.8% during the third quarter. Hodges Capital Management Inc. now owns 164,000 shares of the company’s stock valued at $2,522,000 after buying an additional 17,300 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of RXO by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 17,216,681 shares of the company’s stock valued at $264,793,000 after acquiring an additional 233,434 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of RXO by 31.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 639,606 shares of the company’s stock valued at $9,837,000 after acquiring an additional 153,468 shares in the last quarter. Rhumbline Advisers lifted its stake in RXO by 5.9% during the third quarter. Rhumbline Advisers now owns 469,860 shares of the company’s stock worth $7,226,000 after purchasing an additional 26,328 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in RXO by 13.6% in the third quarter. Oppenheimer & Co. Inc. now owns 48,682 shares of the company’s stock worth $749,000 after purchasing an additional 5,825 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

About RXO

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.