RXO (NYSE:RXO) Sets New 52-Week Low – What’s Next?

RXO, Inc. (NYSE:RXO)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $18.43 and last traded at $18.77, with a volume of 390681 shares. The stock had previously closed at $19.22.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RXO shares. Morgan Stanley decreased their price objective on RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group cut their price objective on RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Truist Financial assumed coverage on RXO in a report on Thursday. They issued a “buy” rating and a $24.00 target price on the stock. The Goldman Sachs Group decreased their price objective on shares of RXO from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Finally, Stifel Nicolaus decreased their target price on shares of RXO from $27.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.80.

RXO Stock Up 1.0 %

The business’s fifty day moving average price is $22.68 and its 200 day moving average price is $25.90. The company has a market capitalization of $2.98 billion, a P/E ratio of -8.61, a P/E/G ratio of 4.55 and a beta of 1.67. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22.

RXO (NYSE:RXO) last announced its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. As a group, equities research analysts predict that RXO, Inc. will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RXO

Several institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock worth $27,000 after buying an additional 510 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of RXO during the 3rd quarter worth approximately $28,000. Smartleaf Asset Management LLC grew its position in RXO by 228.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company’s stock valued at $30,000 after purchasing an additional 868 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in RXO by 68.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after acquiring an additional 570 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in RXO by 407.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company’s stock valued at $43,000 after acquiring an additional 1,445 shares in the last quarter. 92.73% of the stock is currently 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.