RXO (NYSE:RXO) Coverage Initiated at Truist Financial

Equities research analysts at Truist Financial assumed coverage on shares of RXO (NYSE:RXO) in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $24.00 price target on the stock. Truist Financial’s price target would indicate a potential upside of 29.69% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group decreased their price objective on RXO from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group reduced their target price on RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Stifel Nicolaus reduced their target price on RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company reduced their target price on RXO from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays reduced their target price on RXO from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $25.80.

RXO Stock Up 1.5 %

NYSE RXO opened at $18.51 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average is $22.55 and its two-hundred day moving average is $25.83. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -8.73, a PEG ratio of 4.55 and a beta of 1.67. RXO has a 1-year low of $17.50 and a 1-year high of $32.82.

RXO (NYSE:RXO) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. Equities analysts forecast that RXO will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of RXO by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock valued at $410,137,000 after purchasing an additional 2,009,937 shares during the period. Norges Bank acquired a new position in shares of RXO in the 4th quarter valued at $28,342,000. Loomis Sayles & Co. L P acquired a new position in shares of RXO in the 3rd quarter valued at $27,964,000. Franklin Resources Inc. lifted its stake in shares of RXO by 122.6% in the 4th quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company’s stock valued at $39,971,000 after purchasing an additional 923,307 shares during the period. Finally, Zimmer Partners LP acquired a new position in shares of RXO in the 3rd quarter valued at $22,680,000. 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.