#3 - RXO, Inc. (NYSE:RXO)
RXO, Inc. (NYSE: RXO) provides fleet management services. Essentially, it brokers freight transportation, matching companies that need items shipped. It stands to gain as companies will be looking for the best price to move their goods around the country. Analysts note this will be particularly true if the strike is short as companies, particularly small businesses, will look to expedite shipping for the holidays.
RXO’s competitive advantage, for now, is its use of artificial intelligence (AI) to optimize its operations. But this is more than just a play on the port strike. Investors have already been looking at RXO as a company to watch as industrial activity picks up due to the start of the Federal Reserve’s rate cut cycle.
RXO has only been trading publicly since October 2022. The stock is up 19% in 2024 but has pulled back about 2.5% after reporting the second consecutive quarter of revenue that was lower year-over-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.
- Current Price
- $27.25
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 11 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $26.29 (3.5% Downside)
