Morgan Stanley Boosts RXO (NYSE:RXO) Price Target to $26.00

RXO (NYSE:RXO) had its price objective upped by Morgan Stanley from $19.00 to $26.00 in a research report released on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued reports about the company. Barclays increased their price objective on RXO from $24.00 to $30.00 and gave the company an overweight rating in a research report on Tuesday, July 16th. UBS Group lifted their price target 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. Oppenheimer boosted their price objective on shares of RXO from $22.00 to $31.00 and gave the company an outperform rating in a report on Thursday, August 8th. Benchmark restated a hold rating on shares of RXO in a report on Wednesday, June 12th. Finally, Stephens reiterated an equal weight rating and set a $22.00 target price on shares of RXO in a research note on Monday, May 6th. Two 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 stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $25.18.

RXO Stock Down 1.8 %

Shares of NYSE RXO traded down $0.51 during midday trading on Monday, hitting $27.62. The stock had a trading volume of 66,750 shares, compared to its average volume of 703,240. The business’s 50 day moving average is $26.19 and its 200-day moving average is $22.66. RXO has a 52 week low of $16.94 and a 52 week high of $32.82. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.60. The company has a market cap of $3.25 billion, a P/E ratio of -312.56, a PEG ratio of 5.60 and a beta of 1.38.

RXO (NYSE:RXO) last announced 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 negative net margin of 0.29% and a positive return on equity of 3.23%. The company had revenue of $930.00 million during the quarter, compared to analyst estimates of $934.14 million. During the same period in the previous year, the business earned $0.08 EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. As a group, analysts predict that RXO will post 0.17 EPS for the current year.

Institutional Trading of RXO

Several hedge funds have recently bought and sold shares of RXO. International Assets Investment Management LLC raised its stake in shares of RXO by 2,008.5% in the fourth quarter. International Assets Investment Management LLC now owns 5,187 shares of the company’s stock worth $121,000 after buying an additional 4,941 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of RXO by 1.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock valued at $1,231,000 after acquiring an additional 820 shares during the period. Louisiana State Employees Retirement System purchased a new stake in RXO in the 4th quarter worth approximately $1,361,000. GAMMA Investing LLC bought a new stake in RXO during the 4th quarter worth approximately $27,000. Finally, Motley Fool Asset Management LLC raised its stake in RXO by 1.1% during the 4th quarter. Motley Fool Asset Management LLC now owns 407,963 shares of the company’s stock worth $9,489,000 after acquiring an additional 4,305 shares during the period. 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.