RXO (NYSE:RXO) Downgraded to “Market Perform” Rating by Oppenheimer

Oppenheimer cut shares of RXO (NYSE:RXO) from an outperform rating to a market perform rating in a report released on Friday, Marketbeat.com reports.

RXO has been the topic of a number of other reports. The Goldman Sachs Group lowered their price objective on shares of RXO from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Susquehanna cut their price target on shares of RXO from $18.00 to $13.00 and set a “negative” rating on the stock in a research report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on RXO in a report on Friday, March 7th. They issued a “hold” rating and a $19.00 price objective for the company. Wells Fargo & Company dropped their target price on RXO from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Finally, Benchmark restated a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $24.80.

RXO Price Performance

Shares of NYSE RXO opened at $14.44 on Friday. The company has a fifty day moving average price of $20.49 and a 200 day moving average price of $24.91. RXO has a 1-year low of $13.77 and a 1-year high of $32.82. The firm has a market cap of $2.36 billion, a PE ratio of -6.81, a PEG 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 posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. Research analysts predict that RXO will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RXO

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

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.