RXO (NYSE:RXO) Given New $15.00 Price Target at Wells Fargo & Company

RXO (NYSE:RXO) had its target price decreased by Wells Fargo & Company from $20.00 to $15.00 in a report released on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other research analysts also recently issued reports about the company. Morgan Stanley lowered their target price on RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. The Goldman Sachs Group reduced their target price on shares of RXO from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group dropped their price target on RXO from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Deutsche Bank Aktiengesellschaft assumed coverage on RXO in a research report on Friday, March 7th. They set a “hold” rating and a $19.00 price objective on the stock. Finally, Benchmark reissued a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, RXO presently has an average rating of “Hold” and a consensus target price of $19.93.

RXO Price Performance

Shares of RXO stock opened at $14.49 on Thursday. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -6.83, a PEG ratio of 4.55 and a beta of 1.71. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. The stock’s 50-day simple moving average is $16.00 and its 200-day simple moving average is $22.26. RXO has a 52 week low of $12.19 and a 52 week high of $32.82.

RXO (NYSE:RXO) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.51 billion. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. The company’s quarterly revenue was up 57.0% compared to the same quarter last year. During the same period last year, the business earned ($0.03) earnings per share. As a group, analysts expect that RXO will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RXO

Several hedge funds have recently made changes to their positions in RXO. PNC Financial Services Group Inc. grew its holdings in RXO by 25.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,797 shares of the company’s stock worth $130,000 after acquiring an additional 1,398 shares in the last quarter. Picton Mahoney Asset Management boosted its position in RXO by 25.8% during the 1st quarter. Picton Mahoney Asset Management now owns 480,761 shares of the company’s stock valued at $9,182,000 after acquiring an additional 98,488 shares in the last quarter. TD Asset Management Inc bought a new position in shares of RXO in the 1st quarter worth $1,907,000. Victory Capital Management Inc. lifted its stake in shares of RXO by 15.7% during the 1st quarter. Victory Capital Management Inc. now owns 982,789 shares of the company’s stock worth $18,771,000 after purchasing an additional 133,449 shares during the last quarter. Finally, Tectonic Advisors LLC boosted its position in RXO by 24.7% during the first quarter. Tectonic Advisors LLC now owns 55,755 shares of the company’s stock valued at $1,065,000 after purchasing an additional 11,043 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

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.