RXO (NYSE:RXO) Stock Price Down 3.5% - Here's Why

RXO, Inc. (NYSE:RXO - Get Free Report) was down 3.5% during trading on Friday . The stock traded as low as $23.81 and last traded at $23.95. Approximately 247,660 shares traded hands during trading, a decline of 71% from the average daily volume of 862,576 shares. The stock had previously closed at $24.83.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $29.00 target price on shares of RXO in a research report on Monday, November 18th. Citigroup downgraded shares of RXO from a "buy" rating to a "neutral" rating and set a $33.00 price objective on the stock. in a report on Tuesday, November 12th. Oppenheimer reiterated an "outperform" rating and set a $31.00 price objective on shares of RXO in a report on Tuesday, September 17th. Benchmark restated a "hold" rating on shares of RXO in a report on Tuesday, October 15th. Finally, Susquehanna cut their price target on RXO from $16.00 to $12.00 and set a "negative" rating for the company in a research note on Tuesday, November 12th. Two 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 MarketBeat, the stock has an average rating of "Hold" and an average target price of $26.47.

RXO Trading Up 0.7 %

The stock has a market capitalization of $4.02 billion, a PE ratio of -12.63, a price-to-earnings-growth ratio of 15.82 and a beta of 1.32. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $28.46 and a 200-day moving average price of $27.41.

RXO (NYSE:RXO - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $956.19 million. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. As a group, equities analysts forecast that RXO, Inc. will post 0.12 EPS for the current fiscal year.

Institutional Trading of RXO

Hedge funds have recently made changes to their positions in the company. FMR LLC increased its holdings in RXO by 439.5% in the 3rd quarter. FMR LLC now owns 47,837 shares of the company's stock worth $1,339,000 after acquiring an additional 38,970 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of RXO by 20.7% in the second quarter. Primecap Management Co. CA now owns 1,020,900 shares of the company's stock worth $26,697,000 after purchasing an additional 175,300 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of RXO by 7.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,068,380 shares of the company's stock valued at $57,915,000 after purchasing an additional 136,886 shares during the period. Citigroup Inc. raised its position in shares of RXO by 132.4% in the third quarter. Citigroup Inc. now owns 196,748 shares of the company's stock valued at $5,509,000 after purchasing an additional 112,073 shares during the period. Finally, Driehaus Capital Management LLC purchased a new stake in shares of RXO during the 2nd quarter valued at approximately $19,965,000. 92.73% of the stock is currently owned by 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.