RXO (NYSE:RXO) Price Target Raised to $30.00 at Truist Financial

RXO (NYSE:RXO) had its price objective increased by Truist Financial from $26.00 to $30.00 in a research report sent to investors on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Susquehanna boosted their price target on shares of RXO from $18.00 to $20.00 and gave the company a “negative” rating in a research note on Tuesday. Morgan Stanley restated an “equal weight” rating and issued a $22.00 price objective (up from $19.00) on shares of RXO in a research note on Thursday, May 7th. Stifel Nicolaus boosted their target price on shares of RXO from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Monday. UBS Group increased their target price on shares of RXO from $22.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Finally, Stephens upgraded shares of RXO to a “hold” rating in a research note on Wednesday, July 8th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, RXO has a consensus rating of “Hold” and a consensus price target of $23.43.

RXO Price Performance

RXO stock opened at $27.20 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.28. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of -44.59 and a beta of 2.03. The company’s fifty day simple moving average is $25.42 and its 200 day simple moving average is $18.88. RXO has a 12-month low of $10.43 and a 12-month high of $29.86.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The business’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business posted ($0.03) EPS. On average, analysts expect that RXO will post 0.07 earnings per share for the current year.

Institutional Investors Weigh In On RXO

Institutional investors have recently made changes to their positions in the stock. Orbis Allan Gray Ltd boosted its holdings in shares of RXO by 6.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock worth $438,327,000 after acquiring an additional 2,104,597 shares during the period. Vanguard Group Inc. lifted its holdings in RXO by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 17,309,811 shares of the company’s stock worth $218,796,000 after purchasing an additional 93,130 shares in the last quarter. Wellington Management Group LLP boosted its stake in RXO by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock worth $153,780,000 after purchasing an additional 735,810 shares during the period. State Street Corp boosted its stake in RXO by 3.7% in the 4th quarter. State Street Corp now owns 6,370,232 shares of the company’s stock worth $80,520,000 after purchasing an additional 230,053 shares during the period. Finally, Geode Capital Management LLC grew its holdings in RXO by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,876,488 shares of the company’s stock valued at $49,008,000 after buying an additional 18,110 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

More RXO News

Here are the key news stories impacting RXO this week:

• Positive Sentiment: BMO Capital Markets initiated coverage on RXO with an outperform rating and a $35 price target, implying meaningful upside from recent levels and signaling confidence in the company’s ability to benefit from tightening truckload market conditions. BMO Capital Starts RXO at Outperform
• Positive Sentiment: Truist Financial raised its price target on RXO from $26 to $30 and maintained a buy rating, reinforcing the view that the stock still has room to run. Truist Raises RXO Price Target
• Positive Sentiment: RXO announced a partnership with Highway to enhance freight security and streamline carrier onboarding, which could improve network integrity and operational efficiency while addressing freight fraud and cargo theft concerns. RXO Partners with Highway
• Neutral Sentiment: Citizens JMP initiated coverage with a market perform rating, suggesting a more cautious stance that may temper some of the bullish enthusiasm. Citizens JMP Initiates Coverage on RXO
• Neutral Sentiment: Susquehanna also raised its target on RXO to $20 but kept a negative rating, reflecting a less optimistic view even as valuation assumptions improved. Susquehanna Raises RXO Price Target

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.