RXO (NYSE:RXO) Stock Price Up 6.8% Following Analyst Upgrade

Rxo Inc (NYSE:RXO) rose 6.8% on Thursday after The Goldman Sachs Group raised their price target on the stock from $18.00 to $20.00. The Goldman Sachs Group currently has a neutral rating on the stock. RXO traded as high as $28.69 and last traded at $28.90. Approximately 261,267 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 2,287,262 shares. The stock had previously closed at $27.07.

A number of other brokerages also recently commented on RXO. Truist Financial upped their target price on RXO from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. Wall Street Zen raised shares of RXO from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Susquehanna lifted their target price on shares of RXO from $18.00 to $20.00 and gave the company a “negative” rating in a research note on Tuesday. Stifel Nicolaus boosted their price target on shares of RXO from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, Weiss Ratings upgraded shares of RXO from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.57.

Institutional Investors Weigh In On RXO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd lifted its position in RXO by 6.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock valued at $438,327,000 after buying an additional 2,104,597 shares during the period. Franklin Resources Inc. grew its position in shares of RXO by 91.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company’s stock worth $35,818,000 after buying an additional 1,110,530 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of RXO in the 4th quarter worth about $11,224,000. Wellington Management Group LLP increased its stake in shares of 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 acquiring an additional 735,810 shares in the last quarter. Finally, Kennedy Capital Management LLC bought a new position in shares of RXO in the 4th quarter worth about $9,098,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Stock Up 3.1%

The stock’s 50 day simple moving average is $25.69 and its two-hundred day simple moving average is $19.06. The firm has a market cap of $4.85 billion, a P/E ratio of -48.22 and a beta of 2.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.27 and a quick ratio of 1.27.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). The company had revenue of $1.43 billion for 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 firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) EPS. As a group, research analysts forecast that Rxo Inc will post 0.07 earnings per share for the current year.

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.