RXO (NYSE:RXO) Rating Increased to Strong-Buy at BMO Capital Markets

RXO (NYSE:RXO) was upgraded by equities researchers at BMO Capital Markets to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Barclays raised their price objective on RXO from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Wall Street Zen upgraded RXO from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. UBS Group lifted their price target on RXO from $22.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Stephens raised RXO to a “hold” rating in a report on Wednesday, July 8th. Finally, Zacks Research upgraded shares of RXO from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, RXO has an average rating of “Hold” and a consensus price target of $23.14.

RXO Trading Up 3.6%

Shares of RXO stock opened at $28.07 on Monday. The company has a fifty day simple moving average of $25.27 and a 200-day simple moving average of $18.78. RXO has a 12-month low of $10.43 and a 12-month high of $29.86. 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 stock has a market cap of $4.63 billion, a price-to-earnings ratio of -46.02 and a beta of 2.03.

RXO (NYSE:RXO) last posted its earnings results on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted ($0.03) EPS. The company’s revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that RXO will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On RXO

Several hedge funds have recently modified their holdings of RXO. Flagship Harbor Advisors LLC acquired a new position in RXO in the 4th quarter valued at $25,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of RXO in the 1st quarter worth $29,000. Geneos Wealth Management Inc. purchased a new stake in shares of RXO in the first quarter valued at about $30,000. Quarry LP purchased a new stake in shares of RXO in the third quarter valued at about $33,000. Finally, City Holding Co. increased its stake in shares of RXO by 227.6% during the second 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. 92.73% of the stock is owned by institutional investors and hedge funds.

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.