RXO (NYSE:RXO) Hits New 52-Week Low After Analyst Downgrade

RXO, Inc. (NYSE:RXO - Get Free Report) reached a new 52-week low on Wednesday after Jefferies Financial Group lowered their price target on the stock from $26.00 to $20.00. Jefferies Financial Group currently has a buy rating on the stock. RXO traded as low as $12.75 and last traded at $12.89, with a volume of 2093105 shares changing hands. The stock had previously closed at $14.21.

A number of other research firms have also recently commented on RXO. Stifel Nicolaus cut their target price on RXO from $27.00 to $24.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft began coverage on RXO in a research report on Friday, March 7th. They set a "hold" rating and a $19.00 target price for the company. Morgan Stanley cut their price target on shares of RXO from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Barclays decreased their price objective on shares of RXO from $24.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Finally, Benchmark restated a "hold" rating on shares of RXO in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $22.73.

Hedge Funds Weigh In On RXO

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in shares of RXO by 79.7% in the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock valued at $27,000 after buying an additional 510 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in RXO during the third quarter valued at approximately $28,000. Smartleaf Asset Management LLC boosted its stake in RXO by 228.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock valued at $30,000 after acquiring an additional 868 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in RXO by 68.7% in the third 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 last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of RXO by 407.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company's stock worth $43,000 after purchasing an additional 1,445 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

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RXO Price Performance

The stock has a 50-day moving average price of $18.83 and a two-hundred day moving average price of $24.27. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -6.43, a PEG ratio of 4.55 and a beta of 1.60. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. As a group, equities research analysts forecast that RXO, Inc. will post 0.31 EPS for the current year.

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.