The Goldman Sachs Group Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its target price cut by analysts at The Goldman Sachs Group from $24.00 to $21.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 54.15% from the stock’s current price.

RXO has been the topic of several other research reports. Stifel Nicolaus cut their price objective on RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Benchmark reissued a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Susquehanna reduced their price target on RXO from $18.00 to $13.00 and set a “negative” rating on the stock in a report on Wednesday, March 26th. Truist Financial began coverage on shares of RXO in a report on Thursday, March 13th. They issued a “buy” rating and a $24.00 price objective for the company. Finally, Morgan Stanley cut their target price on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Two 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, the stock presently has an average rating of “Hold” and an average target price of $22.73.

RXO Stock Down 3.2 %

RXO stock opened at $13.62 on Thursday. The stock has a market capitalization of $2.23 billion, a P/E ratio of -6.43, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60. 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 firm has a 50-day moving average price of $18.83 and a 200-day moving average price of $24.29. RXO has a 12 month low of $12.39 and a 12 month high of $32.82.

RXO (NYSE:RXO) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. As a group, equities research analysts anticipate that RXO will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On RXO

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in shares of RXO by 439.5% in the 3rd quarter. FMR LLC now owns 47,837 shares of the company’s stock worth $1,339,000 after acquiring an additional 38,970 shares in the last quarter. State Street Corp grew its stake in RXO by 13.3% during the third quarter. State Street Corp now owns 5,124,927 shares of the company’s stock worth $143,498,000 after purchasing an additional 602,741 shares during the period. Wolverine Trading LLC bought a new stake in RXO in the third quarter worth approximately $233,000. Nomura Asset Management Co. Ltd. lifted its stake in RXO by 68.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after buying an additional 570 shares during the period. Finally, Barclays PLC boosted its holdings in shares of RXO by 185.5% during the 3rd quarter. Barclays PLC now owns 908,873 shares of the company’s stock worth $25,449,000 after buying an additional 590,530 shares in the last quarter. Institutional investors and hedge funds 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.