RXO (NYSE:RXO) Given New $28.00 Price Target at Wells Fargo & Company

RXO (NYSE:RXO - Get Free Report) had its price objective dropped by investment analysts at Wells Fargo & Company from $31.00 to $28.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 10.67% from the stock's current price.

RXO has been the subject of a number of other reports. Benchmark reaffirmed a "hold" rating on shares of RXO in a research report on Tuesday, October 15th. Susquehanna lowered their price objective on shares of RXO from $16.00 to $12.00 and set a "negative" rating on the stock in a research report on Tuesday, November 12th. The Goldman Sachs Group reissued a "neutral" rating and issued a $29.00 price objective on shares of RXO in a research note on Monday, November 18th. Oppenheimer restated an "outperform" rating and issued a $31.00 target price on shares of RXO in a research note on Tuesday, September 17th. Finally, Citigroup lowered shares of RXO from a "buy" rating to a "neutral" rating and set a $33.00 price target on the stock. in a research note on Tuesday, November 12th. 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 company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $26.27.

RXO Stock Performance

Shares of RXO stock traded down $0.43 during trading on Tuesday, reaching $25.30. The company's stock had a trading volume of 1,020,706 shares, compared to its average volume of 965,502. The company has a 50-day moving average price of $27.43 and a two-hundred day moving average price of $27.80. RXO has a fifty-two week low of $18.75 and a fifty-two week high of $32.82. The firm has a market cap of $4.07 billion, a PE ratio of -12.78, a P/E/G ratio of 15.82 and a beta of 1.52. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MFN Partners Management LP raised its position in RXO by 11.0% during the second quarter. MFN Partners Management LP now owns 17,310,856 shares of the company's stock worth $452,679,000 after acquiring an additional 1,722,301 shares during the last quarter. State Street Corp lifted its stake in RXO by 13.3% in the 3rd quarter. State Street Corp now owns 5,124,927 shares of the company's stock valued at $143,498,000 after buying an additional 602,741 shares in the last quarter. Geode Capital Management LLC grew its holdings in RXO by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company's stock valued at $85,563,000 after buying an additional 441,994 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in RXO by 7.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,068,380 shares of the company's stock worth $57,915,000 after buying an additional 136,886 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of RXO by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,032,929 shares of the company's stock worth $53,153,000 after acquiring an additional 176,041 shares during the last quarter. Institutional investors and hedge funds 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.