RXO (NYSE:RXO) Downgraded to “Neutral” Rating by Citigroup

Citigroup downgraded shares of RXO (NYSE:RXO) from a buy rating to a neutral rating in a research note released on Tuesday, MarketBeat Ratings reports. Citigroup currently has $33.00 price target on the stock.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley upped their target price on shares of RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. TD Cowen boosted their price objective on shares of RXO from $23.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Oppenheimer reiterated an “outperform” rating and issued a $31.00 target price on shares of RXO in a report on Tuesday, September 17th. Barclays raised their price objective 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. Finally, UBS Group boosted their target price 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. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, RXO currently has a consensus rating of “Hold” and a consensus price target of $26.29.

RXO Price Performance

Shares of RXO stock opened at $27.79 on Tuesday. The stock has a 50 day simple moving average of $27.85 and a 200-day simple moving average of $25.96. RXO has a 1-year low of $17.96 and a 1-year high of $32.82. 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 earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $956.19 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that RXO will post 0.14 earnings per share for the current year.

Institutional Trading of RXO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RXO. GAMMA Investing LLC grew its position in RXO by 40.0% during the third quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock valued at $50,000 after acquiring an additional 510 shares during the period. Motco lifted its stake in RXO by 5,450.0% during the first quarter. Motco now owns 2,442 shares of the company’s stock worth $53,000 after purchasing an additional 2,398 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of RXO by 2,235.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock worth $80,000 after purchasing an additional 3,487 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of RXO during the second quarter worth approximately $112,000. Finally, KBC Group NV lifted its stake in shares of RXO by 28.1% in the 3rd quarter. KBC Group NV now owns 4,055 shares of the company’s stock worth $114,000 after acquiring an additional 890 shares during the period. 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.