Bank of America Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its target price cut by equities research analysts at Bank of America from $17.00 to $15.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s target price indicates a potential upside of 7.42% from the company’s previous close.

RXO has been the subject of a number of other research reports. TD Cowen reiterated a “hold” rating on shares of RXO in a report on Friday, January 9th. UBS Group restated a “neutral” rating on shares of RXO in a research report on Sunday, February 8th. Citigroup increased their target price on shares of RXO from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Stifel Nicolaus set a $15.00 price target on shares of RXO in a research report on Thursday, February 5th. Finally, Truist Financial boosted their price target on RXO from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.07.

RXO Trading Up 4.9%

Shares of RXO stock opened at $13.96 on Wednesday. The business’s fifty day moving average price is $14.80 and its 200 day moving average price is $14.88. The firm has a market capitalization of $2.29 billion, a PE ratio of -24.08, a P/E/G ratio of 9.35 and a beta of 1.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.27 and a quick ratio of 1.27. RXO has a 1-year low of $10.43 and a 1-year high of $19.65.

RXO (NYSE:RXO) last released its earnings results on Friday, February 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.50 billion. RXO had a negative net margin of 1.74% and a negative return on equity of 0.44%. RXO’s revenue was down 11.9% compared to the same quarter last year. During the same period last year, the business posted $0.06 EPS. As a group, sell-side analysts forecast that RXO will post 0.31 EPS for the current fiscal year.

Institutional Trading of RXO

Several institutional investors and hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its holdings in shares of RXO by 1.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,543 shares of the company’s stock valued at $475,000 after purchasing an additional 600 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of RXO by 6.1% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 11,453 shares of the company’s stock worth $176,000 after purchasing an additional 654 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of RXO by 3.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 20,428 shares of the company’s stock worth $345,000 after purchasing an additional 661 shares during the last quarter. New York State Teachers Retirement System lifted its stake in RXO by 0.6% in the 3rd quarter. New York State Teachers Retirement System now owns 116,604 shares of the company’s stock valued at $1,793,000 after buying an additional 700 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in RXO by 27.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,298 shares of the company’s stock valued at $49,000 after buying an additional 701 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

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.