Brokerages Set RXO, Inc. (NYSE:RXO) Target Price at $22.73

Shares of RXO, Inc. (NYSE:RXO - Get Free Report) have received a consensus recommendation of "Hold" from the seventeen analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $22.73.

Several equities research analysts have weighed in on the company. Citigroup decreased their price objective on RXO from $23.00 to $15.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Susquehanna cut their target price on shares of RXO from $18.00 to $13.00 and set a "negative" rating for the company in a research note on Wednesday, March 26th. Truist Financial started coverage on RXO in a research note on Thursday, March 13th. They issued a "buy" rating and a $24.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of RXO in a research report on Friday, March 7th. They issued a "hold" rating and a $19.00 target price for the company. Finally, Barclays decreased their price target on shares of RXO from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd.

Institutional Trading of RXO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of RXO by 439.5% during the 3rd quarter. FMR LLC now owns 47,837 shares of the company's stock worth $1,339,000 after buying an additional 38,970 shares in the last quarter. Wolverine Trading LLC purchased a new stake in shares of RXO during the 3rd quarter worth $233,000. Nomura Asset Management Co. Ltd. grew its stake in shares of RXO by 68.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company's stock worth $39,000 after purchasing an additional 570 shares during the period. Barclays PLC lifted its stake in shares of RXO by 185.5% in the third quarter. Barclays PLC now owns 908,873 shares of the company's stock valued at $25,449,000 after purchasing an additional 590,530 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in RXO by 16.9% during the third quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company's stock worth $85,563,000 after buying an additional 441,994 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Price Performance

NYSE RXO traded up $0.30 during trading on Tuesday, hitting $13.21. 1,089,043 shares of the stock traded hands, compared to its average volume of 1,098,917. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. RXO has a 12-month low of $12.39 and a 12-month high of $32.82. The firm has a 50-day simple moving average of $18.05 and a 200-day simple moving average of $23.83. The company has a market capitalization of $2.17 billion, a P/E ratio of -6.23, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, meeting analysts' consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. As a group, analysts predict that RXO will post 0.31 EPS for the current 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.