RXO (NYSE:RXO) Hits New 1-Year High – Still a Buy?

Shares of Rxo Inc (NYSE:RXO) reached a new 52-week high on Thursday . The company traded as high as $29.86 and last traded at $28.8330, with a volume of 2981729 shares traded. The stock had previously closed at $29.12.

Wall Street Analyst Weigh In

RXO has been the topic of a number of research analyst reports. Barclays upped their target price on RXO from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Citigroup upped their price target on RXO from $17.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. TD Cowen raised their price objective on RXO from $14.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Morgan Stanley reiterated an “equal weight” rating and set a $22.00 price objective (up from $19.00) on shares of RXO in a research note on Thursday, May 7th. Finally, Zacks Research raised RXO from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.08.

RXO Price Performance

The firm’s fifty day simple moving average is $20.78 and its 200-day simple moving average is $16.58. 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 firm has a market capitalization of $4.76 billion, a PE ratio of -47.27, a PEG ratio of 30.91 and a beta of 2.08.

RXO (NYSE:RXO) last announced its quarterly 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 the consensus estimate of $1.34 billion. RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) earnings per share. On average, research analysts forecast that Rxo Inc will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. raised its stake in shares of RXO by 11.8% in the third quarter. Principal Financial Group Inc. now owns 791,799 shares of the company’s stock worth $12,178,000 after purchasing an additional 83,305 shares during the last quarter. Finepoint Capital LP purchased a new position in shares of RXO in the third quarter worth $111,764,000. Public Sector Pension Investment Board raised its stake in shares of RXO by 31.6% in the third quarter. Public Sector Pension Investment Board now owns 639,606 shares of the company’s stock worth $9,837,000 after purchasing an additional 153,468 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of RXO by 20.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,110,413 shares of the company’s stock worth $14,036,000 after purchasing an additional 190,583 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of RXO by 1.4% in the third quarter. Vanguard Group Inc. now owns 17,216,681 shares of the company’s stock worth $264,793,000 after purchasing an additional 233,434 shares during 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.