RXO (NYSE:RXO) Upgraded by BMO Capital Markets to “Strong-Buy” Rating

BMO Capital Markets upgraded shares of RXO (NYSE:RXO) to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $22.00 price target (up from $19.00) on shares of RXO in a report on Thursday, May 7th. Stifel Nicolaus lifted their price objective on RXO from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday. Citigroup started coverage on RXO in a research report on Wednesday. They set a “market perform” rating for the company. Wells Fargo & Company upped their target price on RXO from $15.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, Zacks Research upgraded RXO from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.14.

RXO Trading Up 3.6%

NYSE:RXO opened at $28.07 on Monday. RXO has a 52-week low of $10.43 and a 52-week high of $29.86. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $25.27 and a 200-day simple moving average of $18.78. The company has a market capitalization of $4.63 billion, a PE ratio of -46.02 and a beta of 2.03.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the company earned ($0.03) EPS. The firm’s revenue was down .6% on a year-over-year basis. On average, equities research analysts expect that RXO will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RXO

A number of hedge funds and other institutional investors have recently modified their holdings of RXO. Massachusetts Financial Services Co. MA boosted its position in RXO by 20.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,110,413 shares of the company’s stock worth $14,036,000 after acquiring an additional 190,583 shares during the last quarter. Vanguard Group Inc. grew its stake in RXO by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 17,309,811 shares of the company’s stock worth $218,796,000 after acquiring an additional 93,130 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in RXO in the 4th quarter worth approximately $11,224,000. Patten Group Inc. acquired a new position in RXO in the 4th quarter valued at $404,000. Finally, Hudson Bay Capital Management LP acquired a new position in RXO in the 3rd quarter valued at $2,084,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

About RXO

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.