RXO (NYSE:RXO) Shares Down 7.2% – Here’s Why

RXO, Inc. (NYSE:RXO) shares fell 7.2% during trading on Wednesday . The company traded as low as $22.95 and last traded at $23.43. 86,583 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 927,466 shares. The stock had previously closed at $25.26.

Analyst Ratings Changes

A number of brokerages recently issued reports on RXO. Susquehanna dropped their price target on shares of RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research note on Tuesday, November 12th. Barclays cut their price objective on RXO from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Benchmark restated a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Stifel Nicolaus cut their price target on RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company reduced their price target on shares of RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, RXO presently has a consensus rating of “Hold” and an average target price of $26.14.

RXO Stock Performance

The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The company’s 50-day simple moving average is $25.79 and its 200 day simple moving average is $27.51. The stock has a market cap of $3.37 billion, a P/E ratio of -10.62, a PEG ratio of 3.98 and a beta of 1.53.

RXO (NYSE:RXO) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. As a group, sell-side analysts expect that RXO, Inc. will post 0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On RXO

Several large investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of RXO during the 4th quarter valued at $1,588,000. Victory Capital Management Inc. increased its position in RXO by 11.6% during the fourth quarter. Victory Capital Management Inc. now owns 849,340 shares of the company’s stock valued at $20,248,000 after acquiring an additional 88,110 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in RXO by 3.7% in the fourth 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. 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 acquiring an additional 868 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in RXO by 2.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company’s stock worth $505,000 after purchasing an additional 551 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.