Wells Fargo & Company Cuts RXO (NYSE:RXO) Price Target to $28.00

RXO (NYSE:RXO) had its price target trimmed by Wells Fargo & Company from $31.00 to $28.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts also recently commented on the company. Susquehanna reduced their target price on RXO from $16.00 to $12.00 and set a “negative” rating for the company in a report on Tuesday, November 12th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Tuesday, October 15th. Oppenheimer reissued an “outperform” rating and issued a $31.00 target price on shares of RXO in a research report on Tuesday, September 17th. The Goldman Sachs Group restated a “neutral” rating and issued a $29.00 price target on shares of RXO in a research report on Monday, November 18th. Finally, Citigroup cut shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.27.

RXO Stock Performance

Shares of RXO opened at $25.22 on Tuesday. RXO has a 12-month low of $18.75 and a 12-month high of $32.82. The stock has a market capitalization of $4.06 billion, a P/E ratio of -12.74, a P/E/G ratio of 15.82 and a beta of 1.52. The firm’s 50 day moving average is $27.22 and its 200-day moving average is $27.80. 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 (NYSE:RXO) last posted its quarterly 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. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $956.19 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. Equities research analysts anticipate that RXO will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RXO. MFN Partners Management LP lifted its holdings in shares of RXO by 11.0% during the 2nd quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock valued at $452,679,000 after buying an additional 1,722,301 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in RXO in the third quarter valued at approximately $27,964,000. Zimmer Partners LP acquired a new stake in RXO in the third quarter valued at approximately $22,680,000. Driehaus Capital Management LLC bought a new stake in RXO in the second quarter worth approximately $19,965,000. Finally, Franklin Resources Inc. acquired a new position in shares of RXO during the 3rd quarter worth $22,344,000. 92.73% of the stock is owned by institutional investors and hedge funds.

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.