RXO (NYSE:RXO) Now Covered by Analysts at Truist Financial

Research analysts at Truist Financial initiated coverage on shares of RXO (NYSE:RXO) in a research note issued on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $24.00 price target on the stock. Truist Financial’s price target indicates a potential upside of 32.35% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company cut their price objective on shares of RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of RXO in a research report on Friday, March 7th. They set a “hold” rating and a $19.00 price target on the stock. Barclays lowered their price objective on shares of RXO from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Benchmark reaffirmed a “hold” rating on shares of RXO in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group dropped their price objective on RXO from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.80.

RXO Stock Up 2.7 %

Shares of RXO opened at $18.13 on Thursday. 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 has a 12 month low of $17.50 and a 12 month high of $32.82. The firm’s 50 day moving average is $22.79 and its 200-day moving average is $25.96. The stock has a market capitalization of $2.96 billion, a PE ratio of -8.55, a P/E/G ratio of 4.55 and a beta of 1.67.

RXO (NYSE:RXO) last announced its quarterly earnings data 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 positive return on equity of 1.53% and a negative net margin of 6.26%. Equities research analysts forecast that RXO will post 0.31 EPS for the current year.

Hedge Funds Weigh In On RXO

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new position in RXO during the 3rd quarter worth approximately $28,000. Blue Trust Inc. raised its stake in RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock worth $27,000 after buying an additional 510 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in 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 buying an additional 868 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in RXO by 68.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after acquiring an additional 570 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in RXO by 407.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company’s stock worth $43,000 after acquiring an additional 1,445 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

About RXO

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.