The Goldman Sachs Group Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price objective trimmed by The Goldman Sachs Group from $21.00 to $18.00 in a report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the company. Jefferies Financial Group decreased their target price on RXO from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Benchmark restated a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Barclays dropped their target price on shares of RXO from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Truist Financial decreased their price target on shares of RXO from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of RXO in a report on Friday, March 7th. They set a “hold” rating and a $19.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.93.

RXO Trading Up 0.4 %

Shares of RXO stock opened at $14.49 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The stock has a market capitalization of $2.38 billion, a P/E ratio of -6.83, a P/E/G ratio of 4.55 and a beta of 1.71. RXO has a 52-week low of $12.19 and a 52-week high of $32.82. The stock’s 50-day simple moving average is $16.00 and its 200 day simple moving average is $22.26.

RXO (NYSE:RXO) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the firm posted ($0.03) earnings per share. RXO’s revenue for the quarter was up 57.0% compared to the same quarter last year. As a group, research analysts anticipate that RXO will post 0.31 EPS for the current year.

Institutional Investors Weigh In On RXO

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of RXO by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock valued at $410,137,000 after acquiring an additional 2,009,937 shares during the last quarter. FIL Ltd increased its stake in RXO by 10.4% during the fourth quarter. FIL Ltd now owns 6,327,889 shares of the company’s stock worth $150,857,000 after acquiring an additional 596,158 shares during the last quarter. Douglas Lane & Associates LLC lifted its stake in shares of RXO by 34.3% in the 1st quarter. Douglas Lane & Associates LLC now owns 3,591,040 shares of the company’s stock valued at $68,589,000 after purchasing an additional 916,379 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of RXO by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company’s stock valued at $80,185,000 after purchasing an additional 307,492 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of RXO by 15.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,730,665 shares of the company’s stock worth $52,155,000 after purchasing an additional 355,255 shares during the period. Institutional investors own 92.73% of the company’s stock.

About RXO

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.