Oppenheimer & Co. Inc. Has $791,000 Position in RXO, Inc. (NYSE:RXO)

Oppenheimer & Co. Inc. increased its position in shares of RXO, Inc. (NYSE:RXO) by 5.7% during the third quarter, Holdings Channel reports. The institutional investor owned 28,245 shares of the company’s stock after purchasing an additional 1,520 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in RXO were worth $791,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd bought a new stake in shares of RXO in the 1st quarter worth approximately $542,000. Boston Partners lifted its position in RXO by 150.0% in the first quarter. Boston Partners now owns 42,526 shares of the company’s stock worth $930,000 after purchasing an additional 25,519 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in RXO by 225.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 108,847 shares of the company’s stock worth $2,380,000 after buying an additional 75,395 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in RXO by 1,459.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,628,080 shares of the company’s stock valued at $42,574,000 after buying an additional 1,523,650 shares during the period. Finally, Swedbank AB acquired a new position in shares of RXO in the 1st quarter valued at $76,982,000. 92.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Benchmark reiterated a “hold” rating on shares of RXO in a research report on Tuesday, October 15th. TD Cowen lifted their price objective on RXO from $23.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. Wells Fargo & Company restated an “equal weight” rating and set a $31.00 target price on shares of RXO in a research report on Monday, November 11th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $31.00 price target on shares of RXO in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, RXO has an average rating of “Hold” and an average target price of $26.47.

RXO Stock Up 1.1 %

Shares of NYSE:RXO opened at $27.43 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The firm has a market cap of $4.41 billion, a P/E ratio of -13.85, a P/E/G ratio of 14.68 and a beta of 1.33. RXO, Inc. has a 12 month low of $18.75 and a 12 month high of $32.82. The company’s 50-day moving average price is $27.88 and its two-hundred day moving average price is $26.24.

RXO (NYSE:RXO) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $956.19 million. During the same period in the prior year, the firm earned $0.05 earnings per share. RXO’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that RXO, Inc. will post 0.12 EPS for the current fiscal year.

RXO 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.