RXO (NYSE:RXO) Receives New Coverage from Analysts at Citigroup

Citigroup started coverage on shares of RXO (NYSE:RXO) in a research note released on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $33.00 price target on the stock.

Several other research analysts have also recently commented on the company. Barclays lifted their price target on shares of RXO from $24.00 to $30.00 and gave the stock an overweight rating in a research note on Tuesday, July 16th. Benchmark reiterated a hold rating on shares of RXO in a research report on Tuesday, August 13th. Susquehanna lowered their target price on shares of RXO from $20.00 to $16.00 and set a negative rating on the stock in a research note on Thursday, September 26th. Jefferies Financial Group cut their price target on shares of RXO from $33.00 to $31.00 and set a buy rating for the company in a research note on Tuesday, August 13th. Finally, UBS Group boosted their price target on RXO from $22.00 to $31.00 and gave the company a neutral rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $26.23.

RXO Stock Up 1.1 %

NYSE RXO opened at $27.93 on Wednesday. RXO has a twelve month low of $16.94 and a twelve month high of $32.82. The stock has a market cap of $3.87 billion, a PE ratio of -310.33, a PEG ratio of 13.27 and a beta of 1.34. The firm has a 50-day simple moving average of $27.82 and a 200 day simple moving average of $24.55. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17.

RXO (NYSE:RXO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. RXO had a positive return on equity of 2.22% and a negative net margin of 0.55%. The firm had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $934.14 million. During the same quarter in the prior year, the firm posted $0.08 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, research analysts forecast that RXO will post 0.14 EPS for the current year.

Hedge Funds Weigh In On RXO

Several hedge funds have recently added to or reduced their stakes in RXO. Douglas Lane & Associates LLC grew its holdings in RXO by 2.6% during the 1st quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock worth $57,871,000 after acquiring an additional 66,757 shares during the period. GSA Capital Partners LLP increased its holdings in RXO by 433.8% in the first quarter. GSA Capital Partners LLP now owns 56,002 shares of the company’s stock valued at $1,225,000 after purchasing an additional 45,510 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in RXO in the first quarter valued at about $542,000. Boston Partners boosted its holdings in RXO by 150.0% during the first quarter. Boston Partners now owns 42,526 shares of the company’s stock worth $930,000 after buying an additional 25,519 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of RXO by 225.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 108,847 shares of the company’s stock worth $2,380,000 after buying an additional 75,395 shares during the period. Institutional investors own 92.73% of the company’s stock.

RXO Company Profile

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.