Citigroup Inc. Purchases 112,073 Shares of RXO, Inc. (NYSE:RXO)

Citigroup Inc. raised its position in RXO, Inc. (NYSE:RXO) by 132.4% during the third quarter, Holdings Channel reports. The institutional investor owned 196,748 shares of the company’s stock after buying an additional 112,073 shares during the quarter. Citigroup Inc.’s holdings in RXO were worth $5,509,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RXO. GAMMA Investing LLC increased its stake in 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 purchasing an additional 510 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of RXO in the second quarter valued at approximately $112,000. KBC Group NV grew its stake in shares of RXO by 28.1% in the third quarter. KBC Group NV now owns 4,055 shares of the company’s stock valued at $114,000 after acquiring an additional 890 shares in the last quarter. City Holding Co. grew its position in RXO by 57.9% during the third quarter. City Holding Co. now owns 5,241 shares of the company’s stock worth $147,000 after buying an additional 1,921 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its holdings in RXO by 29.6% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 5,304 shares of the company’s stock valued at $149,000 after buying an additional 1,212 shares during the period. Institutional investors own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

RXO has been the subject of several recent analyst reports. Citigroup downgraded RXO from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research report on Tuesday, November 12th. TD Cowen boosted their target price on RXO from $23.00 to $28.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Susquehanna decreased their target price on RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $29.00 price objective on shares of RXO in a report on Monday, November 18th. Two equities research 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.47.

RXO Price Performance

RXO opened at $30.15 on Monday. RXO, Inc. has a 12-month low of $18.75 and a 12-month high of $32.82. 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 stock has a 50-day moving average price of $28.43 and a 200-day moving average price of $26.69. The stock has a market capitalization of $4.85 billion, a P/E ratio of -15.23, a PEG ratio of 16.24 and a beta of 1.33.

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

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.