Citigroup Downgrades RXO (NYSE:RXO) to Neutral

Citigroup downgraded shares of RXO (NYSE:RXO - Free Report) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have $33.00 price objective on the stock.

A number of other equities analysts have also weighed in on RXO. Oppenheimer reissued an "outperform" rating and issued a $31.00 price objective on shares of RXO in a research report on Tuesday, September 17th. Susquehanna cut their price target on shares of RXO from $20.00 to $16.00 and set a "negative" rating on the stock in a report on Thursday, September 26th. Jefferies Financial Group dropped their target price on shares of RXO from $33.00 to $31.00 and set a "buy" rating on the stock in a report on Tuesday, August 13th. Benchmark restated a "hold" rating on shares of RXO in a research report on Tuesday, October 15th. Finally, UBS Group increased their price objective on RXO from $22.00 to $31.00 and gave the stock a "neutral" rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $26.29.

RXO Stock Down 4.9 %

Shares of NYSE RXO traded down $1.44 during trading hours on Tuesday, hitting $27.97. The company had a trading volume of 386,687 shares, compared to its average volume of 860,456. The stock has a market capitalization of $4.50 billion, a P/E ratio of -14.29, a price-to-earnings-growth ratio of 12.28 and a beta of 1.33. The company has a quick ratio of 1.17, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. RXO has a 1-year low of $17.96 and a 1-year high of $32.82. The firm's 50 day moving average is $27.86 and its 200-day moving average is $25.91.

RXO (NYSE:RXO - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. During the same period in the previous year, the company posted $0.05 earnings per share. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts expect that RXO will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RXO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in RXO by 40.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company's stock valued at $50,000 after purchasing an additional 510 shares during the period. Motco grew its position in shares of RXO by 5,450.0% during the 1st quarter. Motco now owns 2,442 shares of the company's stock worth $53,000 after buying an additional 2,398 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of RXO by 2,235.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company's stock worth $80,000 after purchasing an additional 3,487 shares in the last quarter. KBC Group NV increased its position in shares of RXO by 28.1% during the 3rd quarter. KBC Group NV now owns 4,055 shares of the company's stock valued at $114,000 after purchasing an additional 890 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in RXO during the 2nd quarter valued at about $112,000. Hedge funds and other institutional investors own 92.73% of the company's stock.

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.