Truist Financial Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price objective reduced by research analysts at Truist Financial from $20.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 18.84% from the company’s previous close.

Several other equities analysts have also weighed in on RXO. Benchmark restated a “hold” rating on shares of RXO in a report on Friday, December 12th. TD Cowen raised their price objective on RXO from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Friday, January 9th. Wolfe Research raised RXO from an “underperform” rating to a “peer perform” rating in a research report on Friday, November 14th. Wall Street Zen lowered RXO from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, JPMorgan Chase & Co. boosted their price target on RXO from $15.00 to $16.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.14.

RXO Stock Up 0.1%

Shares of NYSE:RXO opened at $15.15 on Thursday. The stock has a 50-day simple moving average of $13.21 and a 200-day simple moving average of $15.33. The stock has a market capitalization of $2.49 billion, a P/E ratio of -35.22, a PEG ratio of 7.82 and a beta of 1.74. RXO has a 1 year low of $10.43 and a 1 year high of $26.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.32 and a current ratio of 1.32.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). RXO had a negative net margin of 1.25% and a positive return on equity of 0.88%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the business posted $0.05 EPS. The company’s quarterly revenue was up 34.6% on a year-over-year basis. Equities analysts forecast that RXO will post 0.31 earnings per share for the current year.

Insider Transactions at RXO

In other RXO news, Director Troy A. Cooper purchased 8,317 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average price of $10.61 per share, for a total transaction of $88,243.37. Following the completion of the purchase, the director owned 275,416 shares in the company, valued at $2,922,163.76. The trade was a 3.11% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew M. Wilkerson purchased 7,775 shares of RXO stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average cost of $12.88 per share, with a total value of $100,142.00. Following the acquisition, the chief executive officer directly owned 7,775 shares of the company’s stock, valued at $100,142. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 40,250 shares of company stock valued at $488,875. 2.80% of the stock is currently owned by insiders.

Institutional Trading of RXO

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC boosted its holdings in shares of RXO by 39.6% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,801,187 shares of the company’s stock valued at $28,315,000 after buying an additional 511,036 shares during the period. Russell Investments Group Ltd. lifted its holdings in RXO by 67.3% in the second quarter. Russell Investments Group Ltd. now owns 191,318 shares of the company’s stock worth $3,008,000 after acquiring an additional 76,965 shares during the last quarter. Edgestream Partners L.P. bought a new position in RXO in the second quarter worth about $5,611,000. EFG Asset Management North America Corp. boosted its stake in RXO by 28.4% in the second quarter. EFG Asset Management North America Corp. now owns 143,927 shares of the company’s stock valued at $2,264,000 after acquiring an additional 31,860 shares during the period. Finally, Owls Nest Partners IA LLC bought a new position in shares of RXO during the second quarter valued at approximately $9,287,000. Institutional investors own 92.73% of the company’s stock.

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.