Wells Fargo & Company Reaffirms Equal Weight Rating for RXO (NYSE:RXO)

RXO (NYSE:RXO - Get Free Report)'s stock had its "equal weight" rating restated by investment analysts at Wells Fargo & Company in a research note issued on Monday, Marketbeat.com reports. They currently have a $31.00 target price on the stock. Wells Fargo & Company's price objective indicates a potential upside of 5.41% from the stock's previous close.

Several other research analysts have also recently issued reports on RXO. Jefferies Financial Group reduced their target price on shares of RXO from $33.00 to $31.00 and set a "buy" rating for the company in a report on Tuesday, August 13th. Morgan Stanley boosted their price objective on RXO from $19.00 to $26.00 and gave the company an "equal weight" rating in a report on Monday, August 12th. Citigroup started coverage on RXO in a report on Wednesday, October 9th. They set a "buy" rating and a $33.00 target price on the stock. Oppenheimer reissued an "outperform" rating and issued a $31.00 price target on shares of RXO in a report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of RXO from $25.00 to $26.00 and gave the stock an "underweight" rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $26.57.

RXO Stock Performance

Shares of NYSE:RXO traded down $0.38 on Monday, hitting $29.41. 1,143,042 shares of the company were exchanged, compared to its average volume of 862,630. The company has a current ratio of 1.33, a quick ratio of 1.17 and a debt-to-equity ratio of 0.21. The stock's 50 day moving average price is $27.84 and its 200 day moving average price is $25.84. The firm has a market capitalization of $4.73 billion, a P/E ratio of -15.35, a price-to-earnings-growth ratio of 12.28 and a beta of 1.33. RXO has a 1-year low of $17.96 and a 1-year high of $32.82.

RXO (NYSE:RXO - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company's revenue was up 6.6% compared to the same quarter last year. Sell-side analysts predict that RXO will post 0.16 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of RXO by 40.0% in the third 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 last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of RXO by 0.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 69,190 shares of the company's stock worth $1,513,000 after acquiring an additional 543 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of RXO by 2.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 25,537 shares of the company's stock valued at $668,000 after acquiring an additional 575 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of RXO by 2.3% in the second quarter. Arizona State Retirement System now owns 32,906 shares of the company's stock valued at $860,000 after purchasing an additional 751 shares during the period. Finally, KBC Group NV increased its position in RXO by 28.1% during the third quarter. KBC Group NV now owns 4,055 shares of the company's stock worth $114,000 after purchasing an additional 890 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

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.