RXO’s (RXO) “Hold” Rating Reiterated at Benchmark

RXO (NYSE:RXO)‘s stock had its “hold” rating restated by equities research analysts at Benchmark in a report released on Tuesday, Benzinga reports.

A number of other research firms have also commented on RXO. Jefferies Financial Group reduced their price objective on shares of RXO from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. UBS Group raised 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. Barclays boosted their target price on shares of RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Citigroup started coverage on RXO in a report on Wednesday, October 9th. They set a “buy” rating and a $33.00 price target on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $31.00 price objective on shares of RXO in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.23.

RXO Stock Performance

Shares of RXO stock traded down $0.10 during trading hours on Tuesday, reaching $29.56. The company’s stock had a trading volume of 70,716 shares, compared to its average volume of 856,449. RXO has a one year low of $16.94 and a one year high of $32.82. The company’s 50 day simple moving average is $27.77 and its 200 day simple moving average is $24.75. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market cap of $3.47 billion, a P/E ratio of -328.44, a price-to-earnings-growth ratio of 12.47 and a beta of 1.34.

RXO (NYSE:RXO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $930.00 million for the quarter, compared to analysts’ expectations of $934.14 million. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. RXO’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share. As a group, analysts expect that RXO will post 0.15 EPS for the current fiscal year.

Institutional Trading of RXO

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of RXO by 8.4% during the 4th quarter. Wellington Management Group LLP now owns 1,777,512 shares of the company’s stock worth $41,345,000 after buying an additional 138,365 shares during the period. PNC Financial Services Group Inc. raised its position in RXO by 62.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,181 shares of the company’s stock valued at $121,000 after purchasing an additional 1,987 shares during the last quarter. Douglas Lane & Associates LLC boosted its stake in RXO by 2.6% in the first quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock worth $57,871,000 after purchasing an additional 66,757 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of RXO in the first quarter valued at about $2,283,000. Finally, Allspring Global Investments Holdings LLC lifted its position in RXO by 2,235.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock worth $80,000 after buying an additional 3,487 shares in the last quarter. 92.73% of the stock is currently 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.