RXO (NYSE:RXO) Stock Price Down 8% – Here’s What Happened

Rxo Inc (NYSE:RXO) dropped 8% on Monday . The company traded as low as $23.76 and last traded at $23.5870. 475,528 shares changed hands during trading, a decline of 79% from the average daily volume of 2,260,044 shares. The stock had previously closed at $25.63.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. BMO Capital Markets initiated coverage on RXO in a report on Monday, July 13th. They issued an “outperform” rating and a $35.00 price objective for the company. Zacks Research raised RXO from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Morgan Stanley restated an “equal weight” rating and issued a $22.00 target price (up from $19.00) on shares of RXO in a research report on Thursday, May 7th. TD Cowen upped their target price on RXO from $14.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Finally, UBS Group boosted their price objective on shares of RXO from $22.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.57.

RXO Stock Performance

The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average price of $26.70 and a 200 day moving average price of $19.78. The stock has a market cap of $3.75 billion, a PE ratio of -37.25 and a beta of 2.03.

RXO (NYSE:RXO) last issued its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.RXO’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) EPS. Analysts expect that Rxo Inc will post 0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. City Holding Co. raised its holdings in RXO by 227.6% during the 2nd quarter. City Holding Co. now owns 1,245 shares of the company’s stock valued at $34,000 after buying an additional 865 shares during the last quarter. GAMMA Investing LLC grew its holdings in RXO by 11.5% in the 2nd quarter. GAMMA Investing LLC now owns 9,650 shares of the company’s stock worth $266,000 after acquiring an additional 996 shares during the last quarter. Bank of America Corp DE increased its position in shares of RXO by 128.6% in the first quarter. Bank of America Corp DE now owns 724,060 shares of the company’s stock valued at $10,586,000 after acquiring an additional 407,285 shares during the period. Intrinsic Edge Capital Management LLC purchased a new position in shares of RXO in the first quarter valued at about $3,655,000. Finally, Amundi raised its stake in shares of RXO by 28.8% during the first quarter. Amundi now owns 17,589 shares of the company’s stock valued at $257,000 after acquiring an additional 3,938 shares during the last quarter. 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.