RXO’s (RXO) Equal Weight Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reaffirmed their equal weight rating on shares of RXO (NYSE:RXO) in a report published on Monday morning, Marketbeat reports. The brokerage currently has a $31.00 price objective on the stock.

A number of other brokerages have also recently issued reports on RXO. Benchmark reissued a “hold” rating on shares of RXO in a research report on Tuesday, October 15th. Citigroup started coverage on RXO in a report on Wednesday, October 9th. They issued a “buy” rating and a $33.00 target price on the stock. UBS Group upped their price objective on shares of RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Barclays raised their price objective on shares of RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group decreased their target price on shares of RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.29.

RXO Trading Up 0.1 %

NYSE:RXO opened at $27.84 on Monday. The stock has a fifty day moving average price of $27.84 and a 200 day moving average price of $25.98. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The firm has a market cap of $4.48 billion, a PE ratio of -14.06, a price-to-earnings-growth ratio of 13.01 and a beta of 1.33. RXO has a 12-month low of $18.75 and a 12-month high of $32.82.

RXO (NYSE:RXO) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. RXO’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 EPS. Sell-side analysts anticipate that RXO will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RXO

Several hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of RXO by 40.0% in the third quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock valued at $50,000 after buying an additional 510 shares during the last quarter. Motco raised its holdings in RXO by 5,450.0% in the 1st quarter. Motco now owns 2,442 shares of the company’s stock valued at $53,000 after acquiring an additional 2,398 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in RXO by 2,235.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock valued at $80,000 after acquiring an additional 3,487 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of RXO during the 2nd quarter worth $112,000. Finally, KBC Group NV boosted its holdings in shares of RXO by 28.1% during the third quarter. KBC Group NV now owns 4,055 shares of the company’s stock worth $114,000 after purchasing an additional 890 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

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.