Citigroup Issues Pessimistic Forecast for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price objective cut by Citigroup from $16.00 to $15.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 1.72% from the stock’s previous close.

Several other analysts also recently issued reports on RXO. The Goldman Sachs Group cut their price target on RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Zacks Research upgraded RXO from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Truist Financial reduced their price target on shares of RXO from $22.00 to $20.00 and set a “buy” rating for the company in a report on Friday, November 7th. Benchmark restated a “hold” rating on shares of RXO in a research report on Friday, December 12th. Finally, Wall Street Zen cut shares of RXO from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.29.

RXO Trading Up 2.0%

RXO stock opened at $14.75 on Thursday. RXO has a 1 year low of $10.43 and a 1 year high of $26.92. The firm’s 50-day moving average is $13.36 and its 200-day moving average is $15.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $2.42 billion, a P/E ratio of -34.29, a PEG ratio of 4.82 and a beta of 1.74.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). RXO had a positive return on equity of 0.88% and a negative net margin of 1.25%.The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the company earned $0.05 EPS. RXO’s revenue was up 34.6% compared to the same quarter last year. On average, equities analysts expect that RXO will post 0.31 earnings per share for the current year.

Insider Activity at RXO

In related news, Director Troy A. Cooper purchased 8,317 shares of RXO stock in a transaction dated Thursday, November 20th. The stock was bought at an average cost of $10.61 per share, with a total value of $88,243.37. Following the purchase, the director owned 275,416 shares in the company, valued at approximately $2,922,163.76. The trade was a 3.11% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew M. Wilkerson acquired 7,775 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $12.88 per share, with a total value of $100,142.00. Following the completion of the acquisition, the chief executive officer directly owned 7,775 shares of the company’s stock, valued at approximately $100,142. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 40,250 shares of company stock worth $488,875 in the last 90 days. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On RXO

A number of institutional investors have recently added to or reduced their stakes in RXO. SG Americas Securities LLC boosted its stake in RXO by 694.5% during the 4th quarter. SG Americas Securities LLC now owns 321,844 shares of the company’s stock valued at $4,068,000 after purchasing an additional 281,335 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of RXO by 5.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,568 shares of the company’s stock valued at $273,000 after buying an additional 1,140 shares during the period. Hudson Bay Capital Management LP bought a new position in RXO during the third quarter valued at about $2,084,000. CIBC Bancorp USA Inc. acquired a new position in RXO during the third quarter worth about $267,000. Finally, PharVision Advisers LLC acquired a new position in RXO during the third quarter worth about $203,000. 92.73% of the stock is currently owned by institutional investors and hedge funds.

About RXO

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.