Wells Fargo & Company Lowers RXO (NYSE:RXO) Price Target to $28.00

RXO (NYSE:RXO) had its price objective cut by investment analysts at Wells Fargo & Company from $31.00 to $28.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 11.02% from the company’s previous close.

Several other research analysts also recently weighed in on the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $29.00 price target on shares of RXO in a research note on Monday, November 18th. Benchmark reiterated a “hold” rating on shares of RXO in a research report on Tuesday, October 15th. Citigroup lowered shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Tuesday, November 12th. Susquehanna cut their price objective on shares of RXO from $16.00 to $12.00 and set a “negative” rating for the company in a report on Tuesday, November 12th. Finally, Oppenheimer reiterated an “outperform” rating and set a $31.00 price objective on shares of RXO in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.27.

RXO Stock Performance

NYSE RXO opened at $25.22 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $4.06 billion, a PE ratio of -12.74, a price-to-earnings-growth ratio of 15.82 and a beta of 1.52. RXO has a 52-week low of $18.75 and a 52-week high of $32.82. The company has a 50-day simple moving average of $27.28 and a 200 day simple moving average of $27.82.

RXO (NYSE:RXO) last posted its quarterly 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 company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $956.19 million. During the same quarter in the previous year, the firm posted $0.05 EPS. RXO’s revenue was up 6.6% on a year-over-year basis. On average, research analysts predict that RXO will post 0.12 EPS for the current year.

Institutional Trading of RXO

Several institutional investors and hedge funds have recently made changes to their positions in RXO. JPMorgan Chase & Co. increased its stake in RXO by 71.8% in the third quarter. JPMorgan Chase & Co. now owns 272,062 shares of the company’s stock valued at $7,618,000 after acquiring an additional 113,685 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of RXO by 11.3% in the 3rd quarter. Principal Financial Group Inc. now owns 650,222 shares of the company’s stock worth $18,206,000 after purchasing an additional 66,159 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of RXO during the 3rd quarter valued at about $22,344,000. Wilmington Savings Fund Society FSB purchased a new position in shares of RXO during the 3rd quarter valued at about $28,000. Finally, Geode Capital Management LLC lifted its position in RXO by 16.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company’s stock worth $85,563,000 after buying an additional 441,994 shares during the last quarter. 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.