RXO (NYSE:RXO) Lowered to "Market Perform" Rating by Oppenheimer

RXO (NYSE:RXO - Get Free Report) was downgraded by equities researchers at Oppenheimer from an "outperform" rating to a "market perform" rating in a research note issued to investors on Friday, MarketBeat.com reports.

RXO has been the topic of several other research reports. Jefferies Financial Group lowered their price target on shares of RXO from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company cut their price objective on RXO from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft initiated coverage on RXO in a research note on Friday, March 7th. They set a "hold" rating and a $19.00 price target on the stock. Benchmark reaffirmed a "hold" rating on shares of RXO in a research note on Wednesday, January 15th. Finally, Barclays reduced their price target on RXO from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Two investment 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $23.60.

RXO Price Performance

Shares of NYSE RXO traded up $0.70 during mid-day trading on Friday, reaching $13.64. The company's stock had a trading volume of 1,269,007 shares, compared to its average volume of 1,076,625. The stock has a market capitalization of $2.24 billion, a P/E ratio of -6.42, a P/E/G ratio of 4.55 and a beta of 1.60. RXO has a 1-year low of $12.42 and a 1-year high of $32.82. The stock has a 50-day moving average of $19.71 and a two-hundred day moving average of $24.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26.

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RXO (NYSE:RXO - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, hitting analysts' consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. On average, equities research analysts anticipate that RXO will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On RXO

A number of hedge funds and other institutional investors have recently made changes to their positions in RXO. The Manufacturers Life Insurance Company grew its stake in shares of RXO by 12.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 74,244 shares of the company's stock valued at $2,079,000 after purchasing an additional 8,377 shares during the last quarter. FMR LLC grew its position in RXO by 439.5% in the 3rd quarter. FMR LLC now owns 47,837 shares of the company's stock valued at $1,339,000 after buying an additional 38,970 shares during the last quarter. MetLife Investment Management LLC increased its stake in RXO by 16.3% in the 3rd quarter. MetLife Investment Management LLC now owns 78,455 shares of the company's stock valued at $2,197,000 after buying an additional 10,993 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in RXO by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 247,588 shares of the company's stock worth $6,932,000 after buying an additional 4,415 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of RXO in the 3rd quarter worth $1,149,000. Hedge funds and other 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.