Bank of America Issues Pessimistic Forecast for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price objective dropped by stock analysts at Bank of America from $17.00 to $15.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective suggests a potential upside of 5.60% from the stock’s previous close.

A number of other brokerages have also weighed in on RXO. TD Cowen reissued a “hold” rating on shares of RXO in a research report on Friday, January 9th. Susquehanna raised their price target on shares of RXO from $10.00 to $11.00 and gave the company a “negative” rating in a report on Thursday, January 8th. Barclays lifted their price target on shares of RXO from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of RXO in a report on Monday, December 22nd. Finally, Stephens set a $15.00 price objective on shares of RXO in a research report on Monday, February 9th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.07.

RXO Stock Performance

Shares of RXO opened at $14.21 on Wednesday. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -24.49, a P/E/G ratio of 11.30 and a beta of 1.67. The business’s fifty day simple moving average is $14.76 and its two-hundred day simple moving average is $14.87. RXO has a 12 month low of $10.43 and a 12 month high of $19.65. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.25.

RXO (NYSE:RXO) last posted its quarterly earnings results on Friday, February 6th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.50 billion. RXO had a negative return on equity of 0.44% and a negative net margin of 1.74%.The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. Research analysts anticipate that RXO will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC purchased a new stake in shares of RXO during the 4th quarter valued at about $152,000. Attestor Capital Ltd purchased a new position in shares of RXO in the fourth quarter worth approximately $3,610,000. Invesco Ltd. grew its position in RXO by 22.6% during the fourth quarter. Invesco Ltd. now owns 1,172,748 shares of the company’s stock valued at $14,824,000 after buying an additional 216,399 shares during the period. Mercer Global Advisors Inc. ADV grew its position in RXO by 41.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,436 shares of the company’s stock valued at $195,000 after buying an additional 4,499 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in RXO during the fourth quarter valued at approximately $129,000. 92.73% of the stock is owned by hedge funds and other 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.