RXO (NYSE:RXO) Given New $26.00 Price Target at JPMorgan Chase & Co.

RXO (NYSE:RXO) had its price target boosted by JPMorgan Chase & Co. from $25.00 to $26.00 in a research report released on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Raymond James assumed coverage on RXO in a research note on Wednesday, May 15th. They set a market perform rating for the company. Stephens reissued an equal weight rating and set a $22.00 target price on shares of RXO in a research note on Monday, May 6th. TD Cowen increased their target price on RXO from $19.00 to $20.00 and gave the stock a hold rating in a research note on Friday, May 3rd. UBS Group increased their target price on RXO from $22.00 to $31.00 and gave the stock a neutral rating in a research note on Thursday. Finally, Benchmark reissued a hold rating on shares of RXO in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $24.45.

RXO Stock Down 0.5 %

RXO stock traded down $0.13 during mid-day trading on Thursday, reaching $28.72. 864,384 shares of the company were exchanged, compared to its average volume of 832,853. RXO has a twelve month low of $16.94 and a twelve month high of $32.82. The firm’s 50-day simple moving average is $26.03 and its two-hundred day simple moving average is $22.61. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.60.

RXO (NYSE:RXO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. The company had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $934.14 million. During the same period last year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. Research analysts forecast that RXO will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RXO

Several hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in RXO during the fourth quarter worth $27,000. Motco increased its position 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 buying an additional 2,398 shares in the last quarter. TFO Wealth Partners LLC increased its position in RXO by 106,833.3% during the fourth quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock worth $70,000 after buying an additional 3,205 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in RXO by 2,235.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock worth $80,000 after buying an additional 3,487 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in RXO by 62.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,181 shares of the company’s stock worth $121,000 after buying an additional 1,987 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

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.