RXO (NYSE:RXO) Sets New 12-Month High at $25.26

RXO, Inc. (NYSE:RXO)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $25.26 and last traded at $24.83, with a volume of 242302 shares changing hands. The stock had previously closed at $24.85.

Wall Street Analysts Forecast Growth

RXO has been the subject of several research reports. Raymond James initiated coverage on shares of RXO in a report on Wednesday, May 15th. They issued a “market perform” rating for the company. Benchmark restated a “hold” rating on shares of RXO in a report on Wednesday, June 12th. Susquehanna lifted their price objective on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research report on Monday, March 25th. TD Cowen increased their target price on RXO from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, Stephens restated an “equal weight” rating and set a $22.00 price target on shares of RXO in a research report on Monday, May 6th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, RXO presently has an average rating of “Hold” and a consensus price target of $19.90.

RXO Trading Up 1.7 %

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a 50 day moving average of $20.49 and a two-hundred day moving average of $21.29.

RXO (NYSE:RXO) last released its earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $913.00 million for the quarter, compared to analysts’ expectations of $929.50 million. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 earnings per share. On average, analysts expect that RXO, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at RXO

In other news, major shareholder Mfn Partners, Lp bought 870,000 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were purchased at an average price of $19.52 per share, for a total transaction of $16,982,400.00. Following the completion of the purchase, the insider now owns 16,675,369 shares in the company, valued at approximately $325,503,202.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders bought 1,128,060 shares of company stock worth $22,099,090. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RXO. GAMMA Investing LLC purchased a new stake in shares of RXO during the fourth quarter valued at $27,000. Ramirez Asset Management Inc. bought a new position in RXO during the 3rd quarter valued at about $45,000. Motco boosted its holdings in shares of RXO by 5,450.0% during the 1st quarter. Motco now owns 2,442 shares of the company’s stock valued at $53,000 after acquiring an additional 2,398 shares during the last quarter. TFO Wealth Partners LLC grew its stake in shares of RXO by 106,833.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock worth $70,000 after acquiring an additional 3,205 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of RXO by 2,235.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock valued at $80,000 after purchasing an additional 3,487 shares during the last quarter. Hedge funds and other institutional investors 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.