TD Cowen Raises RXO (NYSE:RXO) Price Target to $14.00

RXO (NYSE:RXO) had its price objective increased by analysts at TD Cowen from $13.00 to $14.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential downside of 5.06% from the stock’s current price.

Several other research firms have also commented on RXO. Zacks Research raised shares of RXO from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Morgan Stanley upgraded shares of RXO from an “equal weight” rating to an “overweight” rating and set a $19.00 target price for the company in a report on Tuesday, November 11th. The Goldman Sachs Group cut their price target on shares of RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Stifel Nicolaus increased their price objective on shares of RXO from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Tuesday, December 16th. Finally, Barclays dropped their target price on RXO from $17.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, RXO presently has an average rating of “Hold” and an average price target of $16.29.

RXO Trading Up 2.0%

Shares of NYSE RXO opened at $14.75 on Friday. RXO has a 1-year low of $10.43 and a 1-year high of $26.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 1.32. The business’s 50 day moving average is $13.36 and its two-hundred day moving average is $15.34. The stock has a market capitalization of $2.42 billion, a P/E ratio of -34.29, a PEG ratio of 4.92 and a beta of 1.74.

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

Insider Activity

In other news, CEO Andrew M. Wilkerson bought 7,775 shares of the stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $12.88 per share, for a total transaction of $100,142.00. Following the acquisition, the chief executive officer owned 7,775 shares of the company’s stock, valued at $100,142. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas A. Szlosek purchased 20,308 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $12.37 per share, for a total transaction of $251,209.96. Following the transaction, the director directly owned 36,508 shares in the company, valued at approximately $451,603.96. This represents a 125.36% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 40,250 shares of company stock valued at $488,875. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC boosted its holdings in shares of RXO by 87.1% in the 1st quarter. Intech Investment Management LLC now owns 94,527 shares of the company’s stock valued at $1,805,000 after buying an additional 44,001 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in RXO by 39.6% during the second quarter. Frontier Capital Management Co. LLC now owns 1,801,187 shares of the company’s stock valued at $28,315,000 after acquiring an additional 511,036 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in RXO by 67.3% in the second quarter. Russell Investments Group Ltd. now owns 191,318 shares of the company’s stock valued at $3,008,000 after acquiring an additional 76,965 shares in the last quarter. Edgestream Partners L.P. purchased a new position in RXO in the second quarter worth $5,611,000. Finally, EFG Asset Management North America Corp. increased its position in shares of RXO by 28.4% during the second quarter. EFG Asset Management North America Corp. now owns 143,927 shares of the company’s stock worth $2,264,000 after purchasing an additional 31,860 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

RXO Company Profile

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.