RXO (NYSE:RXO) Shares Gap Up on Analyst Upgrade

Shares of Rxo Inc (NYSE:RXO) gapped up before the market opened on Wednesday after Susquehanna upgraded the stock from a negative rating to a neutral rating. The stock had previously closed at $19.79, but opened at $20.37. Susquehanna now has a $19.00 price target on the stock. RXO shares last traded at $19.5590, with a volume of 88,235 shares traded.

RXO has been the subject of several other reports. Deutsche Bank Aktiengesellschaft set a $30.00 price objective on RXO in a report on Friday, August 7th. Citigroup upgraded RXO from a “market perform” rating to an “outperform” rating in a report on Friday, August 7th. The Goldman Sachs Group boosted their target price on shares of RXO from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research report on Tuesday, July 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of RXO in a report on Tuesday, September 1st. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $23.62.

Institutional Trading of RXO

A number of hedge funds have recently modified their holdings of RXO. Public Employees Retirement System of Ohio increased its holdings in shares of RXO by 18.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,196 shares of the company’s stock worth $61,000 after purchasing an additional 649 shares during the period. City Holding Co. lifted its stake in shares of RXO by 227.6% in the second 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 period. ProShare Advisors LLC grew its position in RXO by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 31,634 shares of the company’s stock worth $400,000 after buying an additional 972 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of 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 period. Finally, Citizens Financial Group Inc. RI raised its stake in shares of RXO by 5.0% in the first quarter. Citizens Financial Group Inc. RI now owns 24,583 shares of the company’s stock valued at $359,000 after purchasing an additional 1,165 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Trading Up 0.1%

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.27 and a quick ratio of 1.27. The business’s 50 day simple moving average is $22.29 and its 200 day simple moving average is $21.39. The stock has a market cap of $3.27 billion, a P/E ratio of -32.42 and a beta of 2.10.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.63 billion. RXO had a negative return on equity of 0.98% and a negative net margin of 1.72%.The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 earnings per share. On average, analysts expect that Rxo Inc will post 0.14 earnings per share for the current fiscal year.

About RXO

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.