RXO (NYSE:RXO) Earns Market Perform Rating from Analysts at Citizens Jmp

Citizens Jmp began coverage on shares of RXO (NYSE:RXO) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage issued a market perform rating on the stock.

Several other analysts also recently commented on RXO. TD Cowen raised their price objective on shares of RXO from $14.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Barclays boosted their target price on shares of RXO from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Wells Fargo & Company increased their target price on shares of RXO from $15.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Stifel Nicolaus raised their price target on shares of RXO from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, Citigroup assumed coverage on shares of RXO in a research note on Wednesday. They issued a “market perform” rating for the company. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $23.57.

RXO Stock Up 3.1%

Shares of RXO stock opened at $29.41 on Wednesday. The stock’s 50-day moving average is $25.69 and its 200 day moving average is $19.06. RXO has a one year low of $10.43 and a one year high of $29.86. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -48.22 and a beta of 2.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.27 and a quick ratio of 1.27.

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

Hedge Funds Weigh In On RXO

A number of large investors have recently modified their holdings of the company. Orbis Allan Gray Ltd boosted its position in shares of RXO by 6.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock valued at $438,327,000 after buying an additional 2,104,597 shares during the last quarter. Franklin Resources Inc. grew its position in RXO by 91.2% during the third quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company’s stock valued at $35,818,000 after buying an additional 1,110,530 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in RXO in the fourth quarter worth about $11,224,000. Wellington Management Group LLP boosted its stake in RXO by 7.9% in the third quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock valued at $153,780,000 after acquiring an additional 735,810 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new position in shares of RXO during the 4th quarter valued at approximately $9,098,000. 92.73% of the stock is currently owned by institutional investors.

RXO Company Profile

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.