RXO (NYSE:RXO) Given “Equal Weight” Rating at Wells Fargo & Company

Wells Fargo & Company reiterated their equal weight rating on shares of RXO (NYSE:RXO) in a report published on Monday, Marketbeat Ratings reports. Wells Fargo & Company currently has a $31.00 price target on the stock.

Several other research firms also recently issued reports on RXO. UBS Group boosted their price objective on shares of RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Citigroup initiated coverage on RXO in a research note on Wednesday, October 9th. They set a “buy” rating and a $33.00 price objective on the stock. Benchmark reiterated a “hold” rating on shares of RXO in a research note on Tuesday, October 15th. Finally, Oppenheimer reissued an “outperform” rating and set a $31.00 price target on shares of RXO in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $26.29.

RXO Trading Up 0.1 %

Shares of RXO opened at $27.84 on Monday. RXO has a twelve month low of $18.75 and a twelve month high of $32.82. The firm has a market capitalization of $4.48 billion, a P/E ratio of -14.06, a price-to-earnings-growth ratio of 13.01 and a beta of 1.33. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $27.84 and its 200 day simple moving average is $25.98.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $956.19 million. During the same period in the previous year, the company posted $0.05 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts forecast that RXO will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On RXO

A number of institutional investors have recently modified their holdings of RXO. Swedbank AB acquired a new position in RXO in the first quarter worth about $76,982,000. MFN Partners Management LP raised its stake in RXO by 19.8% during the first quarter. MFN Partners Management LP now owns 15,588,555 shares of the company’s stock valued at $340,922,000 after buying an additional 2,580,330 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in RXO by 1,459.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,628,080 shares of the company’s stock worth $42,574,000 after buying an additional 1,523,650 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of RXO in the 3rd quarter worth approximately $27,964,000. Finally, Driehaus Capital Management LLC bought a new stake in shares of RXO in the 2nd quarter valued at approximately $19,965,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

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.