CIBC Asset Management Inc Acquires New Holdings in RXO, Inc. (NYSE:RXO)

CIBC Asset Management Inc bought a new stake in shares of RXO, Inc. (NYSE:RXO) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,257 shares of the company’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RXO. SG Americas Securities LLC acquired a new position in shares of RXO during the first quarter worth approximately $151,000. Vanguard Group Inc. boosted its position in RXO by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 13,294,483 shares of the company’s stock worth $290,750,000 after acquiring an additional 45,977 shares during the period. UniSuper Management Pty Ltd bought a new position in shares of RXO in the first quarter worth $542,000. Keeley Teton Advisors LLC increased its holdings in shares of RXO by 52.8% during the first quarter. Keeley Teton Advisors LLC now owns 22,270 shares of the company’s stock valued at $487,000 after purchasing an additional 7,698 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of RXO by 2.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 75,802 shares of the company’s stock valued at $1,658,000 after purchasing an additional 1,663 shares during the period. Institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RXO shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $29.00 target price on shares of RXO in a research report on Monday, November 18th. Susquehanna decreased their price objective on shares of RXO from $16.00 to $12.00 and set a “negative” rating for the company in a report on Tuesday, November 12th. Benchmark reissued a “hold” rating on shares of RXO in a report on Tuesday, October 15th. Jefferies Financial Group cut their target price on RXO from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, Morgan Stanley lifted their price target on RXO from $19.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.47.

RXO Stock Up 1.6 %

RXO stock opened at $28.36 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $4.56 billion, a P/E ratio of -14.32, a P/E/G ratio of 14.77 and a beta of 1.33. RXO, Inc. has a 52-week low of $18.75 and a 52-week high of $32.82. The company’s 50 day simple moving average is $28.02 and its 200-day simple moving average is $26.32.

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

RXO 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.