RXO (NYSE:RXO) Reaches New 52-Week High – What’s Next?

Rxo Inc (NYSE:RXO)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $27.83 and last traded at $27.3950, with a volume of 298328 shares traded. The stock had previously closed at $27.63.

Wall Street Analysts Forecast Growth

Several research firms have commented on RXO. Truist Financial boosted their price target on shares of RXO from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Citigroup boosted their price target on shares of RXO from $17.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Benchmark restated a “hold” rating on shares of RXO in a research note on Monday, February 9th. Susquehanna boosted their target price on shares of RXO from $14.00 to $18.00 and gave the stock a “negative” rating in a research note on Friday, May 8th. Finally, Wall Street Zen raised RXO from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, RXO presently has an average rating of “Hold” and an average target price of $20.08.

RXO Stock Performance

The firm’s fifty day moving average price is $19.89 and its 200-day moving average price is $16.16. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of -44.06, a PEG ratio of 28.51 and a beta of 2.08.

RXO (NYSE:RXO) last posted its earnings results on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The business’s revenue was down .6% compared to the same quarter last year. Analysts expect that Rxo Inc will post 0.06 earnings per share for the current year.

Institutional Trading of RXO

A number of hedge funds and other institutional investors have recently made changes to their positions in RXO. Finepoint Capital LP acquired a new stake in shares of RXO during the third quarter worth about $111,764,000. Orbis Allan Gray Ltd boosted its stake in shares of RXO by 6.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock worth $438,327,000 after buying an additional 2,104,597 shares during the period. Franklin Resources Inc. grew its holdings in shares of RXO by 91.2% during the third 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 last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of RXO during the fourth quarter worth about $11,224,000. Finally, Wellington Management Group LLP increased its position in RXO by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock valued at $153,780,000 after acquiring an additional 735,810 shares during the period. Institutional investors and hedge funds 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.