RXO (NYSE:RXO) Stock Price Down 4.1% – What’s Next?

Rxo Inc (NYSE:RXO)’s share price fell 4.1% during trading on Wednesday. The company traded as low as $27.59 and last traded at $27.9090. Approximately 310,922 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 2,425,319 shares. The stock had previously closed at $29.10.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RXO shares. Jefferies Financial Group lowered RXO from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Tuesday, October 6th. Citigroup downgraded shares of RXO from a “neutral” rating to a “market perform” rating in a research report on Thursday, October 15th. BMO Capital Markets lowered shares of RXO from an “outperform” rating to a “hold” rating and set a $30.25 price target for the company. in a research note on Tuesday, October 6th. Wells Fargo & Company upped their price objective on shares of RXO from $23.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 6th. Finally, Deutsche Bank Aktiengesellschaft set a $30.00 price objective on shares of RXO in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, RXO has an average rating of “Hold” and an average target price of $26.08.

RXO Stock Down 4.6%

The company has a market cap of $4.58 billion, a PE ratio of -45.60 and a beta of 2.10. The company has a 50-day moving average of $23.43 and a 200-day moving average of $20.82.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the business posted $0.04 earnings per share. RXO’s revenue was up 25.0% on a year-over-year basis. As a group, equities analysts predict that Rxo Inc will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Maple Rock Capital Partners Inc. purchased a new stake in RXO in the 2nd quarter valued at about $71,283,000. Dimensional Fund Advisors LP lifted its stake in shares of RXO by 32.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,048,903 shares of the company’s stock valued at $29,949,000 after buying an additional 504,955 shares in the last quarter. Emerald Advisers LLC boosted its holdings in shares of RXO by 434,029.7% in the first quarter. Emerald Advisers LLC now owns 438,471 shares of the company’s stock worth $6,410,000 after acquiring an additional 438,370 shares during the period. Bank of America Corp DE grew its holdings in RXO by 128.6% during the 1st quarter. Bank of America Corp DE now owns 724,060 shares of the company’s stock valued at $10,586,000 after buying an additional 407,285 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in RXO during the 1st quarter worth approximately $4,034,000. 92.73% of the stock is owned by 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.