RXO (NYSE:RXO) Cut to Market Perform at Citizens Jmp

Citizens Jmp cut shares of RXO (NYSE:RXO) from an outperform rating to a market perform rating in a report issued on Thursday morning, Marketbeat.com reports.

Several other brokerages have also recently commented on RXO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RXO in a research report on Tuesday, September 1st. BMO Capital Markets downgraded RXO from an “outperform” rating to a “hold” rating and set a $30.25 price target for the company. in a research note on Tuesday, October 6th. The Goldman Sachs Group boosted their price objective on RXO from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Stephens raised RXO to a “hold” rating in a report on Wednesday, July 8th. Finally, Truist Financial upped their price objective on RXO from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $26.08.

RXO Trading Down 1.4%

RXO opened at $28.66 on Thursday. The stock has a market capitalization of $4.73 billion, a PE ratio of -46.99 and a beta of 2.10. The firm’s fifty day moving average price is $22.52 and its 200 day moving average price is $22.81. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.27 and a quick ratio of 1.27. RXO has a 12-month low of $10.43 and a 12-month high of $29.90.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.63 billion. RXO had a negative net margin of 1.72% and a negative return on equity of 0.98%. The firm’s revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 EPS. As a group, research analysts expect that RXO will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RXO. City Holding Co. boosted its position in RXO by 227.6% during the 2nd quarter. City Holding Co. now owns 1,245 shares of the company’s stock worth $34,000 after acquiring an additional 865 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in shares of RXO in the first quarter worth $29,000. Nykredit A S acquired a new position in shares of RXO during the second quarter valued at $67,000. Public Employees Retirement System of Ohio increased its holdings in shares of RXO by 18.3% during the first quarter. Public Employees Retirement System of Ohio now owns 4,196 shares of the company’s stock valued at $61,000 after purchasing an additional 649 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of RXO during the second quarter valued at $133,000. 92.73% of the stock is currently owned by institutional investors.

About RXO

RXO, Inc is a transportation services company that provides asset-light freight brokerage and logistics solutions. The company connects shippers with independent carriers and helps coordinate the movement of truckload, less-than-truckload and other freight across North America.

RXO’s services include digital freight brokerage, managed transportation and last-mile logistics. Its brokerage business uses technology and carrier relationships to match customer shipments with available transportation capacity, while its managed transportation offerings help companies plan, coordinate and optimize freight operations.