RXO (NYSE:RXO) Stock Price Down 4.1% – What’s Next?

Rxo Inc (NYSE:RXO)’s share price was down 4.1% during trading on Wednesday. The stock traded as low as $27.59 and last traded at $27.9090. 310,922 shares changed hands during trading, a decline of 87% from the average daily volume of 2,425,319 shares. The stock had previously closed at $29.10.

Wall Street Analyst Weigh In

RXO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of RXO from an “underweight” rating to a “neutral” rating and raised their target price for the company from $22.00 to $30.00 in a research note on Tuesday, October 6th. BMO Capital Markets lowered shares of RXO from an “outperform” rating to a “hold” rating and set a $30.25 price target on the stock. in a report on Tuesday, October 6th. Jefferies Financial Group cut shares of RXO from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research report on Tuesday, October 6th. Zacks Research upgraded shares of RXO from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Finally, UBS Group set a $19.00 price objective on shares of RXO in a report on Wednesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.08.

RXO Price Performance

The firm’s 50 day simple moving average is $23.43 and its two-hundred day simple moving average is $20.82. The firm has a market capitalization of $4.58 billion, a P/E ratio of -45.60 and a beta of 2.10.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the firm posted $0.04 EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, equities research analysts forecast that Rxo Inc will post 0.15 EPS for the current year.

Institutional Trading of RXO

Several hedge funds and other institutional investors have recently bought and sold shares of RXO. Public Employees Retirement System of Ohio boosted its stake in shares of RXO by 18.3% during the first quarter. Public Employees Retirement System of Ohio now owns 4,196 shares of the company’s stock valued at $61,000 after purchasing an additional 649 shares during the period. City Holding Co. increased its stake in shares of RXO by 227.6% in the second quarter. City Holding Co. now owns 1,245 shares of the company’s stock worth $34,000 after buying an additional 865 shares during the period. GAMMA Investing LLC increased its stake in shares of RXO by 11.5% in the second quarter. GAMMA Investing LLC now owns 9,650 shares of the company’s stock worth $266,000 after buying an additional 996 shares during the period. Citizens Financial Group Inc. RI raised its holdings in RXO by 5.0% during the 1st quarter. Citizens Financial Group Inc. RI now owns 24,583 shares of the company’s stock valued at $359,000 after buying an additional 1,165 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new stake in RXO during the 1st quarter valued at $29,000. Institutional investors own 92.73% of the company’s stock.

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.