FORA Capital LLC Buys Shares of 52,235 RXO, Inc. (NYSE:RXO)

FORA Capital LLC bought a new stake in shares of RXO, Inc. (NYSE:RXO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 52,235 shares of the company’s stock, valued at approximately $1,463,000.

A number of other hedge funds have also added to or reduced their stakes in RXO. Price T Rowe Associates Inc. MD raised its stake in RXO by 2.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 75,802 shares of the company’s stock valued at $1,658,000 after buying an additional 1,663 shares during the last quarter. Comerica Bank raised its stake in RXO by 219.0% during the 1st quarter. Comerica Bank now owns 170,377 shares of the company’s stock valued at $3,726,000 after buying an additional 116,974 shares during the last quarter. Swedbank AB purchased a new stake in shares of RXO in the 1st quarter worth $76,982,000. Boston Partners increased its stake in shares of RXO by 150.0% in the 1st quarter. Boston Partners now owns 42,526 shares of the company’s stock worth $930,000 after purchasing an additional 25,519 shares in the last quarter. Finally, SG Capital Management LLC increased its stake in shares of RXO by 139.3% in the 1st quarter. SG Capital Management LLC now owns 213,892 shares of the company’s stock worth $4,678,000 after purchasing an additional 124,525 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Oppenheimer restated an “outperform” rating and issued a $31.00 price objective on shares of RXO in a research note on Tuesday, September 17th. UBS Group upped their price objective on RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $29.00 price objective on shares of RXO in a research note on Monday, November 18th. Morgan Stanley upped their price objective on RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. upped their price objective on RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.47.

RXO Stock Down 3.2 %

RXO opened at $29.89 on Thursday. The firm has a 50-day simple moving average of $28.21 and a two-hundred day simple moving average of $26.54. RXO, Inc. has a 52 week low of $18.75 and a 52 week high of $32.82. The company has a market capitalization of $4.81 billion, a PE ratio of -15.10, a price-to-earnings-growth ratio of 16.39 and a beta of 1.33. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The business’s revenue was up 6.6% on a year-over-year basis. Analysts forecast that RXO, Inc. will post 0.12 earnings per share for the current fiscal year.

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.