Oppenheimer Reiterates “Outperform” Rating for RXO (NYSE:RXO)

RXO (NYSE:RXO)‘s stock had its “outperform” rating reiterated by analysts at Oppenheimer in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $31.00 target price on the stock. Oppenheimer’s price objective points to a potential upside of 19.00% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Benchmark reiterated a “hold” rating on shares of RXO in a research report on Tuesday, August 13th. Jefferies Financial Group dropped their target price on shares of RXO from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. TD Cowen upped their target price on shares of RXO from $23.00 to $28.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on shares of RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley upped their target price on shares of RXO from $19.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $26.00.

RXO Stock Up 0.6 %

NYSE:RXO opened at $26.05 on Tuesday. The stock’s fifty day moving average price is $28.62 and its two-hundred day moving average price is $23.83. RXO has a 52-week low of $16.94 and a 52-week high of $32.82. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -289.44, a P/E/G ratio of 12.46 and a beta of 1.35.

RXO (NYSE:RXO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. RXO had a positive return on equity of 2.22% and a negative net margin of 0.55%. The firm had revenue of $930.00 million for the quarter, compared to the consensus estimate of $934.14 million. During the same quarter in the prior year, the business earned $0.08 EPS. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, analysts anticipate that RXO will post 0.14 EPS for the current year.

Institutional Trading of RXO

A number of large investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in RXO by 27.5% in the 4th quarter. Victory Capital Management Inc. now owns 38,479 shares of the company’s stock worth $895,000 after purchasing an additional 8,295 shares during the period. Dimensional Fund Advisors LP boosted its stake in RXO by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock worth $43,489,000 after purchasing an additional 93,885 shares during the period. Independent Advisor Alliance boosted its stake in RXO by 26.0% in the 4th quarter. Independent Advisor Alliance now owns 29,576 shares of the company’s stock worth $688,000 after purchasing an additional 6,101 shares during the period. Norges Bank acquired a new position in RXO in the 4th quarter worth $24,250,000. Finally, US Bancorp DE lifted its stake in RXO by 430.2% in the 4th quarter. US Bancorp DE now owns 45,309 shares of the company’s stock valued at $1,054,000 after acquiring an additional 36,764 shares in the last quarter. 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.