RXO (NYSE:RXO) Reaches New 1-Year Low on Analyst Downgrade

RXO, Inc. (NYSE:RXO - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday after Oppenheimer downgraded the stock from an outperform rating to a market perform rating. The stock traded as low as $16.85 and last traded at $17.02, with a volume of 358166 shares. The stock had previously closed at $19.55.

Several other equities research analysts also recently issued reports on the company. Morgan Stanley dropped their price objective on RXO from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company dropped their price target on RXO from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Barclays decreased their price objective on RXO from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Truist Financial initiated coverage on RXO in a research report on Thursday, March 13th. They issued a "buy" rating and a $24.00 target price for the company. Finally, Jefferies Financial Group reduced their target price on RXO from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, RXO currently has a consensus rating of "Hold" and an average price target of $24.80.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of RXO by 79.7% during the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock worth $27,000 after purchasing an additional 510 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of RXO in the 3rd quarter valued at about $28,000. Smartleaf Asset Management LLC increased its stake in shares of RXO by 228.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock worth $30,000 after purchasing an additional 868 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of RXO by 68.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company's stock valued at $39,000 after purchasing an additional 570 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in RXO by 407.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company's stock valued at $43,000 after purchasing an additional 1,445 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

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RXO Price Performance

The business has a fifty day moving average of $20.23 and a 200 day moving average of $24.80. The firm has a market cap of $2.20 billion, a P/E ratio of -6.31, a PEG ratio of 4.55 and a beta of 1.60. 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 (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, hitting analysts' consensus estimates of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. On average, sell-side analysts anticipate that RXO, Inc. will post 0.31 earnings per share 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.