RXO, Inc. (NYSE:RXO) Short Interest Update

RXO, Inc. (NYSE:RXO) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 4,530,000 shares, a growth of 19.5% from the August 15th total of 3,790,000 shares. Approximately 3.9% of the company’s shares are short sold. Based on an average daily volume of 1,010,000 shares, the short-interest ratio is presently 4.5 days.

RXO Stock Up 0.6 %

RXO stock traded up $0.15 during trading hours on Friday, hitting $25.70. The stock had a trading volume of 2,120,412 shares, compared to its average volume of 788,961. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $3.02 billion, a P/E ratio of -285.56, a price-to-earnings-growth ratio of 12.47 and a beta of 1.35. RXO has a 12-month low of $16.94 and a 12-month high of $32.82. The stock’s 50-day moving average price is $28.66 and its 200-day moving average price is $23.77.

RXO (NYSE:RXO) last issued its earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The business had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $934.14 million. During the same period in the previous year, the company earned $0.08 earnings per share. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. Equities research analysts anticipate that RXO will post 0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

RXO has been the topic of a number of research reports. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Tuesday, August 13th. Oppenheimer lifted their target price on shares of RXO from $22.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Barclays lifted their price target on shares of RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Jefferies Financial Group lowered their price target on shares of RXO from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, TD Cowen lifted their price target on shares of RXO from $23.00 to $28.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $26.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Illinois Municipal Retirement Fund raised its holdings in shares of RXO by 0.8% during the first quarter. Illinois Municipal Retirement Fund now owns 69,190 shares of the company’s stock valued at $1,513,000 after purchasing an additional 543 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of RXO by 2.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 25,537 shares of the company’s stock valued at $668,000 after purchasing an additional 575 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of RXO by 2.3% during the second quarter. Arizona State Retirement System now owns 32,906 shares of the company’s stock valued at $860,000 after purchasing an additional 751 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of RXO by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 59,100 shares of the company’s stock valued at $1,545,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Hohimer Wealth Management LLC raised its holdings in shares of RXO by 2.4% during the fourth quarter. Hohimer Wealth Management LLC now owns 46,405 shares of the company’s stock valued at $1,079,000 after purchasing an additional 1,109 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

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.