RXO (NYSE:RXO) Trading Down 11.4% – Here’s What Happened

Shares of Rxo Inc (NYSE:RXO) traded down 11.4% during trading on Thursday . The stock traded as low as $10.93 and last traded at $10.9560. 1,385,440 shares were traded during trading, a decline of 21% from the average session volume of 1,757,307 shares. The stock had previously closed at $12.36.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RXO shares. UBS Group reduced their target price on shares of RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Zacks Research lowered RXO from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. lifted their target price on RXO from $15.00 to $16.00 and gave the stock an “underweight” rating in a report on Wednesday, October 8th. Barclays cut their target price on RXO from $17.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. Finally, Wolfe Research upgraded RXO from an “underperform” rating to a “peer perform” rating in a research report on Friday. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, RXO has a consensus rating of “Hold” and a consensus target price of $16.69.

RXO Trading Up 2.0%

The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -25.22 and a beta of 1.67. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $16.23 and a 200 day moving average price of $15.97.

RXO (NYSE:RXO) last released its earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.44 billion. RXO had a negative net margin of 1.25% and a positive return on equity of 0.88%. The company’s revenue was up 34.6% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. As a group, research analysts anticipate that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Thomas A. Szlosek bought 20,308 shares of the company’s stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $12.37 per share, with a total value of $251,209.96. Following the transaction, the director directly owned 36,508 shares in the company, valued at approximately $451,603.96. This trade represents a 125.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew M. Wilkerson bought 7,775 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $12.88 per share, with a total value of $100,142.00. Following the completion of the transaction, the chief executive officer directly owned 7,775 shares of the company’s stock, valued at approximately $100,142. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 31,933 shares of company stock worth $400,632 over the last ninety days. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of RXO

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC grew its position in RXO by 87.1% in the 1st quarter. Intech Investment Management LLC now owns 94,527 shares of the company’s stock worth $1,805,000 after purchasing an additional 44,001 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of RXO during the first quarter valued at approximately $56,693,000. Invesco Ltd. increased its position in shares of RXO by 19.0% during the first quarter. Invesco Ltd. now owns 754,778 shares of the company’s stock valued at $14,416,000 after purchasing an additional 120,275 shares during the period. Nuveen LLC acquired a new position in shares of RXO in the first quarter valued at $8,107,000. Finally, Douglas Lane & Associates LLC lifted its position in RXO by 4.1% in the second quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company’s stock worth $58,789,000 after purchasing an additional 148,738 shares during the period. Institutional investors and hedge funds 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.