RXO (NYSE:RXO) Downgraded by Oppenheimer to Market Perform

Oppenheimer cut shares of RXO (NYSE:RXO) from an outperform rating to a market perform rating in a research report sent to investors on Friday morning, Marketbeat reports.

Several other research analysts have also recently issued reports on the company. Wells Fargo & Company lowered their price objective on RXO from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Susquehanna lowered their price target on RXO from $18.00 to $13.00 and set a “negative” rating for the company in a report on Wednesday, March 26th. The Goldman Sachs Group cut their price objective on shares of RXO from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus lowered their target price on shares of RXO from $27.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Finally, Morgan Stanley dropped 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 equities 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.80.

RXO Stock Down 8.4 %

Shares of RXO stock opened at $14.44 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. RXO has a 52-week low of $13.77 and a 52-week high of $32.82. The company has a market capitalization of $2.37 billion, a P/E ratio of -6.81, a P/E/G ratio of 4.55 and a beta of 1.60. The company has a 50 day moving average of $20.49 and a 200 day moving average of $24.89.

RXO (NYSE:RXO) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting 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, research analysts forecast that RXO will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On RXO

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its position in RXO by 12.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 74,244 shares of the company’s stock worth $2,079,000 after acquiring an additional 8,377 shares during the period. FMR LLC lifted its holdings in shares of RXO by 439.5% during the third quarter. FMR LLC now owns 47,837 shares of the company’s stock worth $1,339,000 after purchasing an additional 38,970 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of RXO by 16.3% during the third quarter. MetLife Investment Management LLC now owns 78,455 shares of the company’s stock worth $2,197,000 after purchasing an additional 10,993 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in RXO by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 247,588 shares of the company’s stock valued at $6,932,000 after buying an additional 4,415 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in RXO in the 3rd quarter valued at $1,149,000. 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.