Barclays Cuts RXO (NYSE:RXO) Price Target to $22.00

RXO (NYSE:RXO - Get Free Report) had its price objective dropped by research analysts at Barclays from $24.00 to $22.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price target suggests a potential upside of 52.32% from the stock's previous close.

A number of other equities analysts have also weighed in on the stock. Jefferies Financial Group cut their target price on shares of RXO from $33.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, January 10th. The Goldman Sachs Group cut their price objective on shares of RXO from $28.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, February 6th. Susquehanna lowered their target price on shares of RXO from $18.00 to $13.00 and set a "negative" rating on the stock in a report on Wednesday, March 26th. Truist Financial initiated coverage on RXO in a report on Thursday, March 13th. They issued a "buy" rating and a $24.00 price target for the company. Finally, Benchmark reiterated a "hold" rating on shares of RXO in a research note on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $24.80.

Remove Ads

RXO Stock Performance

Shares of RXO stock traded down $1.33 on Wednesday, reaching $14.44. 3,000,423 shares of the company traded hands, compared to its average volume of 1,062,067. The company has a 50 day moving average of $20.49 and a 200 day moving average of $24.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33. RXO has a 52 week low of $13.77 and a 52 week high of $32.82. The firm has a market capitalization of $2.37 billion, a PE ratio of -6.81, a PEG ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. Equities analysts forecast that RXO will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of RXO by 13.2% during the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company's stock valued at $410,137,000 after purchasing an additional 2,009,937 shares during the last quarter. Norges Bank bought a new position in RXO during the fourth quarter valued at approximately $28,342,000. Franklin Resources Inc. raised its stake in shares of RXO by 122.6% during the fourth quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company's stock worth $39,971,000 after acquiring an additional 923,307 shares in the last quarter. Zimmer Partners LP bought a new stake in shares of RXO in the 3rd quarter worth approximately $22,680,000. Finally, State Street Corp boosted its stake in shares of RXO by 13.3% in the 3rd quarter. State Street Corp now owns 5,124,927 shares of the company's stock valued at $143,498,000 after purchasing an additional 602,741 shares in the last quarter. Institutional investors own 92.73% of the company's stock.

RXO Company Profile

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.