UBS Group Issues Positive Forecast for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price target upped by equities research analysts at UBS Group from $23.00 to $30.25 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group‘s price target would indicate a potential upside of 6.57% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group lowered shares of RXO from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Tuesday, October 6th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research report on Tuesday, July 28th. Truist Financial lifted their price target on RXO from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. JPMorgan Chase & Co. raised RXO from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $22.00 to $30.00 in a report on Tuesday, October 6th. Finally, TD Cowen raised RXO from a “sell” rating to a “hold” rating and increased their price objective for the stock from $17.50 to $30.25 in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, RXO currently has a consensus rating of “Hold” and a consensus target price of $27.32.

RXO Stock Up 0.5%

RXO stock traded up $0.14 during midday trading on Wednesday, reaching $28.39. 3,506,026 shares of the company’s stock traded hands, compared to its average volume of 2,448,983. The company has a market cap of $4.68 billion, a price-to-earnings ratio of -55.66 and a beta of 1.96. The firm’s fifty day moving average price is $24.00 and its 200-day moving average price is $21.15. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.30. RXO has a 52 week low of $10.43 and a 52 week high of $29.90.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.82 billion. RXO had a negative net margin of 1.35% and a negative return on equity of 0.07%. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share. As a group, sell-side analysts forecast that RXO will post 0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RXO. Fulcrum Asset Management LLP bought a new stake in RXO in the 3rd quarter worth about $228,000. Pictet Asset Management Holding SA increased its stake in RXO by 13.0% in the 3rd quarter. Pictet Asset Management Holding SA now owns 14,852 shares of the company’s stock valued at $304,000 after buying an additional 1,707 shares during the last quarter. State of Wyoming lifted its position in shares of RXO by 179.0% during the 3rd quarter. State of Wyoming now owns 18,115 shares of the company’s stock worth $371,000 after buying an additional 11,623 shares in the last quarter. Reyes Financial Architecture Inc. bought a new position in shares of RXO during the 3rd quarter worth approximately $118,000. Finally, Quintet Private Bank Europe S.A. lifted its position in shares of RXO by 100.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 9,400 shares of the company’s stock worth $192,000 after buying an additional 4,700 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

About RXO

RXO, Inc is a transportation and logistics company that connects shippers with motor carriers and other transportation providers. The company primarily operates an asset-light business model, arranging freight transportation rather than owning a large fleet of trucks.

Its services include truckload freight brokerage, managed transportation and last-mile delivery. RXO uses technology and logistics expertise to help businesses source transportation capacity, manage shipments and coordinate deliveries across their supply chains.

RXO serves customers throughout North America, including the United States, Canada and Mexico.