RXO (NYSE:RXO) Stock Price Down 3.2% Following Analyst Downgrade

RXO, Inc. (NYSE:RXO)’s share price was down 3.2% during mid-day trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from $33.00 to $31.00. Jefferies Financial Group currently has a buy rating on the stock. RXO traded as low as $27.16 and last traded at $27.24. Approximately 107,209 shares were traded during trading, a decline of 85% from the average daily volume of 703,501 shares. The stock had previously closed at $28.13.

Several other research analysts have also recently issued reports on the stock. Barclays upped their target price on shares of RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Raymond James initiated coverage on shares of RXO in a research note on Wednesday, May 15th. They issued a “market perform” rating for the company. Morgan Stanley lifted their target price on RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday. Oppenheimer upped their target price on RXO from $22.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, UBS Group raised their price target on RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.67.

Hedge Funds Weigh In On RXO

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in shares of RXO in the 4th quarter worth $27,000. Motco lifted its position in RXO by 5,450.0% in the first quarter. Motco now owns 2,442 shares of the company’s stock valued at $53,000 after purchasing an additional 2,398 shares during the period. TFO Wealth Partners LLC boosted its holdings in RXO by 106,833.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock valued at $70,000 after purchasing 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 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 period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of RXO during the 2nd quarter worth approximately $112,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

RXO Stock Down 3.1 %

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -303.44, a PEG ratio of 5.60 and a beta of 1.38. The firm has a fifty day moving average price of $26.19 and a 200 day moving average price of $22.66.

RXO (NYSE:RXO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $934.14 million. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. RXO’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 earnings per share. As a group, sell-side analysts expect that RXO, Inc. will post 0.17 EPS for the current fiscal year.

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.