Rxo Inc (NYSE:RXO) Receives Average Rating of “Hold” from Brokerages

Rxo Inc (NYSE:RXO) has been assigned an average rating of “Hold” from the nineteen ratings firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $23.62.

Several analysts have recently weighed in on RXO shares. TD Cowen lowered their target price on RXO from $19.00 to $17.50 and set a “sell” rating for the company in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RXO in a research note on Tuesday, September 1st. Citigroup raised RXO from a “market perform” rating to an “outperform” rating in a report on Friday, August 7th. Stephens upgraded RXO to a “hold” rating in a research note on Wednesday, July 8th. Finally, Stifel Nicolaus set a $31.00 price objective on RXO in a report on Friday, August 7th.

RXO Price Performance

RXO stock opened at $19.78 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.27 and a current ratio of 1.27. RXO has a 1 year low of $10.43 and a 1 year high of $29.90. The firm has a market cap of $3.26 billion, a P/E ratio of -32.42 and a beta of 2.10. The stock has a 50-day simple moving average of $21.78 and a 200-day simple moving average of $21.46.

RXO (NYSE:RXO) last announced its earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.63 billion. RXO had a negative return on equity of 0.98% and a negative net margin of 1.72%.The company’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the business posted $0.04 EPS. On average, equities analysts predict that RXO will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of RXO

Hedge funds have recently made changes to their positions in the stock. Cassaday & Co Wealth Management LLC bought a new stake in shares of RXO in the first quarter worth $29,000. City Holding Co. boosted its stake 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 acquiring an additional 865 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in RXO by 18.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,196 shares of the company’s stock valued at $61,000 after acquiring an additional 649 shares during the last quarter. Nykredit A S acquired a new position in RXO during the 2nd quarter worth $67,000. Finally, PNC Financial Services Group Inc. grew its holdings in RXO by 47.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,287 shares of the company’s stock worth $92,000 after acquiring an additional 2,019 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Company Profile

RXO Inc is a transportation services company that provides asset-light freight brokerage and logistics solutions. Its platform connects shippers with third-party carriers, helping businesses arrange the movement of truckload, less-than-truckload, expedited and other freight. The company also provides managed transportation services, including shipment planning, carrier sourcing, tracking and logistics coordination.

RXO primarily serves customers across North America, supporting freight movements in the United States, Canada and Mexico.