Hodges Capital Management Inc. Purchases New Position in RXO, Inc. (NYSE:RXO)

Hodges Capital Management Inc. purchased a new position in shares of RXO, Inc. (NYSE:RXO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 241,400 shares of the company's stock, valued at approximately $5,754,000. Hodges Capital Management Inc. owned approximately 0.15% of RXO at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Loomis Sayles & Co. L P bought a new stake in shares of RXO in the 3rd quarter valued at approximately $27,964,000. Zimmer Partners LP bought a new position in shares of RXO during the third quarter valued at $22,680,000. Franklin Resources Inc. bought a new stake in shares of RXO in the 3rd quarter worth about $22,344,000. Victory Capital Management Inc. increased its position in shares of RXO by 1,772.4% during the 3rd quarter. Victory Capital Management Inc. now owns 761,230 shares of the company's stock worth $21,314,000 after purchasing an additional 720,574 shares in the last quarter. Finally, State Street Corp lifted its holdings in RXO by 13.3% during 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 during the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on RXO shares. Wells Fargo & Company decreased their price objective on shares of RXO from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. Jefferies Financial Group decreased their target price on RXO from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Barclays reduced their price target on shares of RXO from $32.00 to $30.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Susquehanna decreased their price objective on RXO from $16.00 to $12.00 and set a "negative" rating on the stock in a research report on Tuesday, November 12th. Finally, Benchmark reaffirmed 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, eleven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $26.14.

RXO Stock Performance

Shares of RXO traded down $0.04 during mid-day trading on Thursday, reaching $21.46. The company's stock had a trading volume of 2,202,766 shares, compared to its average volume of 1,130,753. RXO, Inc. has a 1-year low of $18.75 and a 1-year high of $32.82. The stock has a market cap of $3.45 billion, a P/E ratio of -10.84, a PEG ratio of 3.98 and a beta of 1.53. The business has a 50-day simple moving average of $25.79 and a two-hundred day simple moving average of $27.51. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21.

RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting analysts' consensus estimates of $0.06. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. As a group, equities research analysts anticipate that RXO, Inc. will post 0.12 earnings per share for the current fiscal year.

RXO 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.