RXO (NYSE:RXO) Lowered to Strong Sell Rating by Zacks Research

RXO (NYSE:RXO) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.

A number of other research analysts have also issued reports on RXO. Barclays reduced their price target on RXO from $17.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday. Truist Financial reduced their price objective on shares of RXO from $22.00 to $20.00 and set a “buy” rating for the company in a report on Friday. Wall Street Zen cut shares of RXO from a “hold” rating to a “sell” rating in a research note on Saturday. Cowen reaffirmed a “hold” rating on shares of RXO in a research note on Friday, August 8th. Finally, UBS Group decreased their price objective on shares of RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, RXO has an average rating of “Reduce” and an average target price of $16.85.

RXO Trading Down 8.0%

Shares of NYSE:RXO opened at $12.47 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $16.70 and its 200 day moving average price is $16.02. The company has a market cap of $2.04 billion, a PE ratio of -28.99, a P/E/G ratio of 8.53 and a beta of 1.67. RXO has a fifty-two week low of $12.16 and a fifty-two week high of $31.11.

RXO (NYSE:RXO) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 EPS. Sell-side analysts anticipate that RXO will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On RXO

Institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas acquired a new position in shares of RXO in the first quarter worth about $292,000. Principal Financial Group Inc. boosted its stake in RXO by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 707,430 shares of the company’s stock worth $13,512,000 after purchasing an additional 23,160 shares during the period. Envestnet Asset Management Inc. grew its position in RXO by 4.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 70,917 shares of the company’s stock worth $1,355,000 after purchasing an additional 2,741 shares in the last quarter. New York State Common Retirement Fund grew its position in RXO by 7.3% during the 1st quarter. New York State Common Retirement Fund now owns 482,243 shares of the company’s stock worth $9,211,000 after purchasing an additional 32,820 shares in the last quarter. Finally, Emerald Advisers LLC raised its stake in RXO by 0.3% during the 1st quarter. Emerald Advisers LLC now owns 854,986 shares of the company’s stock valued at $16,330,000 after purchasing an additional 2,493 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Company Profile

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.