Wells Fargo & Company Cuts RXO (NYSE:RXO) Price Target to $20.00

RXO (NYSE:RXO) had its price objective lowered by Wells Fargo & Company from $22.00 to $20.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

RXO has been the topic of a number of other research reports. The Goldman Sachs Group lowered their price target on RXO from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group reduced their target price on RXO from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Benchmark reissued a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Stifel Nicolaus reduced their price objective on shares of RXO from $27.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Finally, Morgan Stanley decreased their price objective on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.33.

RXO Price Performance

Shares of NYSE RXO opened at $18.86 on Thursday. RXO has a 52 week low of $17.50 and a 52 week high of $32.82. The business’s 50 day moving average price is $21.31 and its 200 day moving average price is $25.19. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.08 billion, a P/E ratio of -8.90, a P/E/G ratio of 4.55 and a beta of 1.67.

RXO (NYSE:RXO) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) 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%. On average, sell-side analysts expect that RXO will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC acquired a new stake in RXO during the third quarter worth about $625,000. Charles Schwab Investment Management Inc. grew its stake in shares of RXO by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,068,380 shares of the company’s stock valued at $57,915,000 after buying an additional 136,886 shares during the period. Citigroup Inc. increased its holdings in shares of RXO by 132.4% during the 3rd quarter. Citigroup Inc. now owns 196,748 shares of the company’s stock worth $5,509,000 after buying an additional 112,073 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of RXO by 12.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 74,244 shares of the company’s stock valued at $2,079,000 after buying an additional 8,377 shares during the period. Finally, FMR LLC lifted its holdings in RXO by 439.5% in the third quarter. FMR LLC now owns 47,837 shares of the company’s stock valued at $1,339,000 after acquiring an additional 38,970 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

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.