RXO (NYSE:RXO) Shares Down 5.8% After Analyst Downgrade

RXO, Inc. (NYSE:RXO)’s stock price dropped 5.8% on Friday after Jefferies Financial Group lowered their price target on the stock from $26.00 to $20.00. Jefferies Financial Group currently has a buy rating on the stock. RXO traded as low as $13.26 and last traded at $13.25. Approximately 57,110 shares were traded during trading, a decline of 95% from the average daily volume of 1,087,916 shares. The stock had previously closed at $14.07.

Several other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft started coverage on RXO in a report on Friday, March 7th. They issued a “hold” rating and a $19.00 price objective for the company. Barclays decreased their price objective on shares of RXO from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Oppenheimer cut shares of RXO from an “outperform” rating to a “market perform” rating in a report on Friday, April 4th. Susquehanna reduced 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. Finally, Benchmark restated a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.73.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RXO. Vanguard Group Inc. boosted its stake in shares of RXO by 13.2% in the fourth quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock valued at $410,137,000 after buying an additional 2,009,937 shares during the period. FIL Ltd raised its holdings in RXO by 10.4% in the 4th quarter. FIL Ltd now owns 6,327,889 shares of the company’s stock valued at $150,857,000 after acquiring an additional 596,158 shares in the last quarter. State Street Corp raised its holdings in RXO by 13.3% in the 3rd quarter. State Street Corp now owns 5,124,927 shares of the company’s stock valued at $143,498,000 after acquiring an additional 602,741 shares in the last quarter. Douglas Lane & Associates LLC lifted its position in shares of RXO by 34.3% during the 1st quarter. Douglas Lane & Associates LLC now owns 3,591,040 shares of the company’s stock valued at $68,589,000 after acquiring an additional 916,379 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of RXO by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company’s stock worth $80,185,000 after purchasing an additional 307,492 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

RXO Stock Down 3.2 %

The company has a market cap of $2.23 billion, a P/E ratio of -6.43, a PEG ratio of 4.55 and a beta of 1.60. The stock has a 50-day moving average of $18.83 and a 200 day moving average of $24.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33.

RXO (NYSE:RXO) last released its earnings results 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%. Research analysts anticipate 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.