Jefferies Financial Group Issues Pessimistic Forecast for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO - Get Free Report) had its price objective lowered by stock analysts at Jefferies Financial Group from $33.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's price objective would indicate a potential upside of 23.66% from the stock's previous close.

Several other brokerages have also recently commented on RXO. Wells Fargo & Company reduced their target price on RXO from $31.00 to $28.00 and set an "equal weight" rating on the stock in a report on Tuesday. Citigroup cut RXO from a "buy" rating to a "neutral" rating and set a $33.00 target price on the stock. in a report on Tuesday, November 12th. Oppenheimer reiterated an "outperform" rating and issued a $31.00 target price on shares of RXO in a report on Tuesday, September 17th. The Goldman Sachs Group restated a "neutral" rating and set a $29.00 price target on shares of RXO in a report on Monday, November 18th. Finally, Susquehanna cut their price target on RXO from $16.00 to $12.00 and set a "negative" rating on the stock in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $26.20.

RXO Trading Down 3.7 %

Shares of NYSE:RXO traded down $0.94 during midday trading on Friday, hitting $24.26. 1,307,524 shares of the stock were exchanged, compared to its average volume of 977,337. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of -12.25, a P/E/G ratio of 15.82 and a beta of 1.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33. The business's 50-day moving average price is $27.15 and its 200 day moving average price is $27.79. RXO has a 12 month low of $18.75 and a 12 month high of $32.82.

RXO (NYSE:RXO - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $956.19 million. During the same period in the prior year, the business posted $0.05 earnings per share. The firm's revenue was up 6.6% on a year-over-year basis. Analysts predict that RXO will post 0.12 earnings per share for the current year.

Institutional Investors Weigh In On RXO

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new position in RXO in the 3rd quarter valued at $28,000. Nomura Asset Management Co. Ltd. grew its stake in 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. GAMMA Investing LLC grew its stake in RXO by 40.0% in 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. KBC Group NV grew its stake in RXO by 28.1% in 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 period. Finally, Canada Pension Plan Investment Board bought a new position in RXO in the 2nd quarter valued at $112,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

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.