TD Cowen Increases RXO (NYSE:RXO) Price Target to $20.00

RXO (NYSE:RXO) had its price target lifted by TD Cowen from $19.00 to $20.00 in a research report report published on Friday, MarketBeat Ratings reports. The brokerage currently has a hold rating on the stock.

RXO has been the topic of a number of other reports. Oppenheimer lowered their price target on RXO from $23.00 to $22.00 and set an outperform rating on the stock in a research note on Tuesday, February 13th. Susquehanna raised their price target on shares of RXO from $15.00 to $16.00 and gave the stock a negative rating in a research note on Monday, March 25th. Benchmark reiterated a hold rating on shares of RXO in a report on Friday, April 19th. Stifel Nicolaus boosted their target price on RXO from $20.00 to $22.00 and gave the stock a hold rating in a report on Wednesday, January 10th. Finally, Vertical Research cut RXO from a buy rating to a hold rating and set a $23.00 price target for the company. in a report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RXO presently has an average rating of Hold and a consensus price target of $20.27.

RXO Stock Performance

RXO stock traded up $0.29 during midday trading on Friday, reaching $20.41. The stock had a trading volume of 541,494 shares, compared to its average volume of 785,063. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.14. RXO has a 52-week low of $16.94 and a 52-week high of $24.33. The firm has a fifty day simple moving average of $20.58 and a two-hundred day simple moving average of $20.88. The stock has a market cap of $2.40 billion, a PE ratio of -226.78, a P/E/G ratio of 7.08 and a beta of 1.24.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The business had revenue of $913.00 million during the quarter, compared to the consensus estimate of $929.50 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. The company’s revenue was down 9.6% compared to the same quarter last year. As a group, equities research analysts anticipate that RXO will post 0.22 EPS for the current year.

Insider Activity at RXO

In other news, major shareholder Mfn Partners, Lp bought 919,720 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average price of $21.04 per share, for a total transaction of $19,350,908.80. Following the completion of the purchase, the insider now owns 14,675,369 shares in the company, valued at approximately $308,769,763.76. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders purchased 1,942,293 shares of company stock worth $39,332,736. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On RXO

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Independent Advisor Alliance boosted its holdings in shares of RXO by 117.8% in the 3rd quarter. Independent Advisor Alliance now owns 23,475 shares of the company’s stock valued at $463,000 after buying an additional 12,695 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of RXO by 13.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,215 shares of the company’s stock valued at $438,000 after purchasing an additional 2,649 shares during the period. Strs Ohio grew its stake in RXO by 11.3% during the 3rd quarter. Strs Ohio now owns 52,000 shares of the company’s stock worth $1,025,000 after buying an additional 5,300 shares during the last quarter. Emerald Advisers LLC increased its position in RXO by 48.1% during the third quarter. Emerald Advisers LLC now owns 319,717 shares of the company’s stock worth $6,308,000 after buying an additional 103,775 shares during the period. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in RXO by 68.6% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 261,032 shares of the company’s stock valued at $5,150,000 after buying an additional 106,214 shares during the last quarter. 92.73% of the stock is 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.