Wells Fargo & Company Issues Pessimistic Forecast for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price target reduced by investment analysts at Wells Fargo & Company from $22.00 to $20.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 6.03% from the stock’s previous close.

A number of other research analysts have also recently issued reports on RXO. Stifel Nicolaus lowered their price objective on RXO from $27.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft began coverage on RXO in a research report on Friday, March 7th. They issued a “hold” rating and a $19.00 price target for the company. Jefferies Financial Group cut their price objective on shares of RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Barclays reduced their price objective on shares of RXO from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Morgan Stanley dropped their target price on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.33.

RXO Stock Down 2.5 %

NYSE:RXO opened at $18.86 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33. The firm’s 50-day moving average price is $21.31 and its 200-day moving average price is $25.19. The company has a market capitalization of $3.08 billion, a PE ratio of -8.90, a P/E/G ratio of 4.55 and a beta of 1.67. RXO has a 1-year low of $17.50 and a 1-year high of $32.82.

RXO (NYSE:RXO) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. On average, equities analysts predict that RXO will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC bought a new position in shares of RXO in the 3rd quarter worth approximately $625,000. Charles Schwab Investment Management Inc. raised its position in RXO by 7.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,068,380 shares of the company’s stock worth $57,915,000 after acquiring an additional 136,886 shares during the period. Citigroup Inc. raised its position in RXO by 132.4% in the third quarter. Citigroup Inc. now owns 196,748 shares of the company’s stock worth $5,509,000 after acquiring an additional 112,073 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of RXO by 12.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 74,244 shares of the company’s stock worth $2,079,000 after acquiring an additional 8,377 shares during the last quarter. Finally, FMR LLC grew its position in shares of RXO by 439.5% during the 3rd quarter. FMR LLC now owns 47,837 shares of the company’s stock valued at $1,339,000 after acquiring an additional 38,970 shares during the period. 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.