Jefferies Financial Group Trims RXO (NYSE:RXO) Target Price to $31.00

RXO (NYSE:RXO - Get Free Report) had its price target lowered by stock analysts at Jefferies Financial Group from $33.00 to $31.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's price objective indicates a potential upside of 13.68% from the stock's current price.

RXO has been the topic of several other reports. Morgan Stanley upped their price objective on RXO from $19.00 to $26.00 and gave the company an "equal weight" rating in a research note on Monday. Stephens reiterated an "equal weight" rating and set a $22.00 price objective on shares of RXO in a research note on Monday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of RXO from $25.00 to $26.00 and gave the company an "underweight" rating in a research note on Thursday, August 8th. TD Cowen increased their target price on shares of RXO from $23.00 to $28.00 and gave the stock a "hold" rating in a research report on Thursday, August 8th. Finally, Barclays boosted their price target on shares of RXO from $24.00 to $30.00 and gave the company an "overweight" rating in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $25.67.

RXO Price Performance

RXO stock traded down $0.86 during midday trading on Tuesday, hitting $27.27. The stock had a trading volume of 688,756 shares, compared to its average volume of 856,200. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The stock has a 50-day simple moving average of $26.33 and a 200 day simple moving average of $22.69. RXO has a 52 week low of $16.94 and a 52 week high of $32.82.

RXO (NYSE:RXO - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, hitting analysts' consensus estimates of $0.03. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The company had revenue of $930.00 million during the quarter, compared to the consensus estimate of $934.14 million. During the same period last year, the firm earned $0.08 EPS. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. On average, analysts expect that RXO will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On RXO

Several large investors have recently made changes to their positions in RXO. MFN Partners Management LP raised its stake in shares of RXO by 11.0% during the second quarter. MFN Partners Management LP now owns 17,310,856 shares of the company's stock worth $452,679,000 after buying an additional 1,722,301 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of RXO by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 13,294,483 shares of the company's stock worth $290,750,000 after purchasing an additional 45,977 shares during the last quarter. Swedbank AB acquired a new stake in shares of RXO during the first quarter worth $76,982,000. Douglas Lane & Associates LLC increased its holdings in RXO by 2.0% in the second quarter. Douglas Lane & Associates LLC now owns 2,698,525 shares of the company's stock valued at $70,566,000 after purchasing an additional 52,378 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in RXO by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,032,929 shares of the company's stock valued at $53,153,000 after purchasing an additional 176,041 shares during the last quarter. Institutional investors and hedge funds 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.