Harbor Capital Advisors Inc. Invests $2 Million in RXO, Inc. (NYSE:RXO)

Harbor Capital Advisors Inc. purchased a new stake in shares of RXO, Inc. (NYSE:RXO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 84,057 shares of the company's stock, valued at approximately $2,004,000. Harbor Capital Advisors Inc. owned about 0.05% of RXO at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in RXO during the 3rd quarter valued at about $28,000. Nomura Asset Management Co. Ltd. increased its stake in shares of RXO by 68.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company's stock valued at $39,000 after acquiring an additional 570 shares during the period. GAMMA Investing LLC increased its stake in shares of RXO by 40.0% during the third quarter. GAMMA Investing LLC now owns 1,784 shares of the company's stock valued at $50,000 after acquiring an additional 510 shares during the period. Canada Pension Plan Investment Board bought a new stake in RXO during the second quarter worth approximately $112,000. Finally, KBC Group NV lifted its position in RXO by 28.1% in the third quarter. KBC Group NV now owns 4,055 shares of the company's stock worth $114,000 after purchasing an additional 890 shares during the period. Institutional investors own 92.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Benchmark reissued a "hold" rating on shares of RXO in a research note on Tuesday, October 15th. Oppenheimer reissued an "outperform" rating and issued a $31.00 price target on shares of RXO in a report on Tuesday, September 17th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $29.00 price objective on shares of RXO in a research note on Monday, November 18th. 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 note on Friday. Finally, Citigroup cut shares of RXO from a "buy" rating to a "neutral" rating and set a $33.00 target price for the company. in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, RXO presently has a consensus rating of "Hold" and an average target price of $26.77.

RXO Stock Down 3.7 %

Shares of RXO traded down $0.94 during mid-day trading on Friday, reaching $24.26. The company's stock had a trading volume of 1,307,524 shares, compared to its average volume of 977,337. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -12.25, a price-to-earnings-growth ratio of 15.82 and a beta of 1.52. The business has a fifty day moving average of $27.15 and a 200 day moving average of $27.83. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. RXO, Inc. has a 1 year low of $18.75 and a 1 year high of $32.82.

RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. During the same period in the prior year, the business earned $0.05 EPS. The business's revenue for the quarter was up 6.6% on a year-over-year basis. As a group, analysts forecast that RXO, Inc. will post 0.12 earnings per share for the current fiscal year.

About RXO

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.