The Goldman Sachs Group Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price objective reduced by equities research analysts at The Goldman Sachs Group from $24.00 to $21.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 50.19% from the company’s current price.

Several other research firms also recently weighed in on RXO. Jefferies Financial Group reduced their target price on RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Stifel Nicolaus decreased their target price on shares of RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of RXO in a report on Friday, March 7th. They issued a “hold” rating and a $19.00 target price for the company. Barclays cut their price target on shares of RXO from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Finally, Oppenheimer cut RXO from an “outperform” rating to a “market perform” rating in a report on Friday, April 4th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.40.

RXO Price Performance

RXO stock traded down $0.96 on Thursday, reaching $13.98. The company had a trading volume of 970,521 shares, compared to its average volume of 1,089,375. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. RXO has a 1 year low of $12.39 and a 1 year high of $32.82. The company’s fifty day moving average is $19.28 and its 200 day moving average is $24.48. The company has a market cap of $2.29 billion, a P/E ratio of -6.64, a PEG ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO) last announced its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. On average, research analysts forecast that RXO will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RXO. FMR LLC grew its stake in RXO by 439.5% during the 3rd quarter. FMR LLC now owns 47,837 shares of the company’s stock valued at $1,339,000 after purchasing an additional 38,970 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of RXO in the 4th quarter worth about $1,588,000. Charles Schwab Investment Management Inc. increased its position in shares of RXO by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company’s stock worth $51,138,000 after purchasing an additional 76,653 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of RXO in the 4th quarter valued at about $2,004,000. Finally, Victory Capital Management Inc. grew its stake in RXO by 11.6% in the fourth quarter. Victory Capital Management Inc. now owns 849,340 shares of the company’s stock worth $20,248,000 after purchasing an additional 88,110 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other 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.