RXO (NYSE:RXO) Stock Rating Raised to Strong-Buy at Zacks Research

RXO (NYSE:RXO) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

RXO has been the subject of a number of other research reports. Barclays boosted their price target on RXO from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. TD Cowen upgraded shares of RXO from a “sell” rating to a “hold” rating and increased their price objective for the company from $17.50 to $30.25 in a research note on Monday, October 5th. Citizens Jmp lowered shares of RXO from an “outperform” rating to a “market perform” rating in a report on Thursday, October 15th. The Goldman Sachs Group lifted their price objective on shares of RXO from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, UBS Group set a $19.00 price objective on shares of RXO in a research note on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.08.

RXO Price Performance

RXO stock opened at $28.71 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of -47.07 and a beta of 2.10. The firm has a 50-day moving average of $22.81 and a two-hundred day moving average of $23.07. RXO has a 1 year low of $10.43 and a 1 year high of $29.90.

RXO (NYSE:RXO) last issued its earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.63 billion. RXO had a negative net margin of 1.72% and a negative return on equity of 0.98%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period last year, the company posted $0.04 earnings per share. On average, research analysts forecast that RXO will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On RXO

A number of large investors have recently added to or reduced their stakes in RXO. Maple Rock Capital Partners Inc. bought a new position in RXO in the second quarter worth about $71,283,000. Dimensional Fund Advisors LP boosted its holdings in shares of RXO by 32.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,048,903 shares of the company’s stock valued at $29,949,000 after buying an additional 504,955 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of RXO by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 798,285 shares of the company’s stock valued at $11,671,000 after buying an additional 16,029 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of RXO by 128.6% in the 1st quarter. Bank of America Corp DE now owns 724,060 shares of the company’s stock valued at $10,586,000 after buying an additional 407,285 shares in the last quarter. Finally, Emerald Advisers LLC grew its position in shares of RXO by 434,029.7% in the 1st quarter. Emerald Advisers LLC now owns 438,471 shares of the company’s stock worth $6,410,000 after buying an additional 438,370 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors.

About RXO

RXO, Inc is a transportation and logistics company that connects shippers with motor carriers and other transportation providers. The company primarily operates an asset-light business model, arranging freight transportation rather than owning a large fleet of trucks.

Its services include truckload freight brokerage, managed transportation and last-mile delivery. RXO uses technology and logistics expertise to help businesses source transportation capacity, manage shipments and coordinate deliveries across their supply chains.

RXO serves customers throughout North America, including the United States, Canada and Mexico.