RXO (NYSE:RXO) Price Target Raised to $20.00

RXO (NYSE:RXO) had its price target raised by research analysts at The Goldman Sachs Group from $18.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential downside of 29.15% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Citigroup began coverage on shares of RXO in a research note on Wednesday. They issued a “market perform” rating for the company. Weiss Ratings upgraded RXO from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th. Barclays upped their target price on RXO from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Wall Street Zen upgraded RXO from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Truist Financial lifted their price target on RXO from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.57.

RXO Stock Up 4.3%

RXO stock traded up $1.16 during midday trading on Thursday, reaching $28.23. 950,518 shares of the company were exchanged, compared to its average volume of 2,292,353. The company has a market cap of $4.66 billion, a price-to-earnings ratio of -46.23 and a beta of 2.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.27. RXO has a 1-year low of $10.43 and a 1-year high of $29.86. The stock’s 50-day simple moving average is $25.42 and its 200 day simple moving average is $18.88.

RXO (NYSE:RXO) last issued its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.03) EPS. On average, equities analysts forecast that RXO will post 0.07 earnings per share for the current year.

Hedge Funds Weigh In On RXO

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC purchased a new stake in RXO during the 4th quarter valued at approximately $25,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of RXO in the 1st quarter valued at approximately $29,000. Geneos Wealth Management Inc. acquired a new position in shares of RXO in the first quarter valued at approximately $30,000. Quarry LP acquired a new position in shares of RXO in the third quarter valued at approximately $33,000. Finally, City Holding Co. raised its stake in shares of RXO by 227.6% during the second quarter. City Holding Co. now owns 1,245 shares of the company’s stock worth $34,000 after purchasing an additional 865 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Key Stories Impacting RXO

Here are the key news stories impacting RXO this week:

• Positive Sentiment: BMO Capital Markets initiated coverage on RXO with an Outperform rating and a $35 price target, suggesting meaningful upside potential. BMO initiates coverage on RXO
• Positive Sentiment: Truist Financial raised its price target on RXO from $26 to $30 and kept a Buy rating, reinforcing the bullish analyst view. Truist raises RXO price target
• Positive Sentiment: RXO was linked to a new freight-security/Highway-related development that attracted market attention, which may be adding to investor interest in the stock. Freight security move gains market attention
• Neutral Sentiment: Citizens JMP initiated coverage with a Market Perform rating, which is supportive from a coverage standpoint but less bullish than other recent analyst calls. Citizens JMP initiates coverage on RXO
• Neutral Sentiment: Susquehanna also lifted its price target on RXO to $20, though the target remains below the current trading level, making the signal mixed. Susquehanna raises RXO price target

About RXO

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.