RXO (NYSE:RXO) Lowered to Neutral Rating by Citigroup

Citigroup lowered shares of RXO (NYSE:RXO) from a buy rating to a neutral rating in a report released on Tuesday, MarketBeat Ratings reports. Citigroup currently has $33.00 price target on the stock.

Other analysts have also issued reports about the stock. Jefferies Financial Group lowered their price objective 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. Morgan Stanley increased their price objective on shares of RXO from $19.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Benchmark reissued a “hold” rating on shares of RXO in a research note on Tuesday, October 15th. Oppenheimer reaffirmed an “outperform” rating and set a $31.00 target price on shares of RXO in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $31.00 price target on shares of RXO in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $26.29.

RXO Price Performance

Shares of RXO stock opened at $27.25 on Tuesday. The company’s 50-day simple moving average is $27.85 and its two-hundred day simple moving average is $26.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.33. RXO has a one year low of $18.75 and a one year high of $32.82. The company has a market capitalization of $4.38 billion, a P/E ratio of -13.76, a P/E/G ratio of 15.00 and a beta of 1.33.

RXO (NYSE:RXO) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $956.19 million. During the same period in the previous year, the company posted $0.05 EPS. RXO’s revenue was up 6.6% on a year-over-year basis. As a group, equities analysts anticipate that RXO will post 0.12 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its holdings in shares of RXO by 185.5% during the third quarter. Barclays PLC now owns 908,873 shares of the company’s stock valued at $25,449,000 after buying an additional 590,530 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in RXO by 68.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after purchasing an additional 570 shares during the last quarter. Zimmer Partners LP acquired a new position in shares of RXO in the third quarter valued at about $22,680,000. Wolverine Trading LLC acquired a new position in shares of RXO in the third quarter valued at about $233,000. Finally, State Street Corp increased its holdings in RXO by 13.3% in the 3rd quarter. State Street Corp now owns 5,124,927 shares of the company’s stock worth $143,498,000 after buying an additional 602,741 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

About RXO

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.