RXO (NYSE:RXO) Hits New 1-Year Low After Analyst Downgrade

RXO, Inc. (NYSE:RXO)’s stock price hit a new 52-week low during mid-day trading on Wednesday after Citigroup lowered their price target on the stock from $23.00 to $15.00. Citigroup currently has a neutral rating on the stock. RXO traded as low as $12.75 and last traded at $12.89, with a volume of 2093105 shares trading hands. The stock had previously closed at $14.21.

A number of other research firms have also recently issued reports on RXO. Deutsche Bank Aktiengesellschaft assumed coverage on RXO in a report on Friday, March 7th. They set a “hold” rating and a $19.00 price objective for the company. Truist Financial initiated coverage on shares of RXO in a report on Thursday, March 13th. They issued a “buy” rating and a $24.00 price target on the stock. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Jefferies Financial Group lowered their price objective on shares of RXO from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Stifel Nicolaus reduced their target price on shares of RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, RXO presently has a consensus rating of “Hold” and a consensus price target of $23.60.

Hedge Funds Weigh In On RXO

Large investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its holdings in shares of RXO by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company’s stock valued at $783,000 after buying an additional 500 shares in the last quarter. Blue Trust Inc. lifted its position in RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock valued at $27,000 after acquiring an additional 510 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in RXO by 1.8% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company’s stock valued at $712,000 after acquiring an additional 518 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in RXO by 2.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company’s stock valued at $505,000 after acquiring an additional 551 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in RXO by 68.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after purchasing an additional 570 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors.

RXO Stock Performance

The business has a 50-day moving average price of $19.28 and a 200-day moving average price of $24.48. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -7.06, a P/E/G ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO) last announced its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. As a group, sell-side analysts forecast that RXO, Inc. will post 0.31 earnings per share for the current year.

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.