Wells Fargo & Company Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price target trimmed by Wells Fargo & Company from $31.00 to $28.00 in a report published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research firms have also commented on RXO. Benchmark reiterated a “hold” rating on shares of RXO in a research note on Tuesday, October 15th. Oppenheimer reaffirmed an “outperform” rating and issued a $31.00 price target on shares of RXO in a research report on Tuesday, September 17th. Susquehanna lowered their price objective on shares of RXO from $16.00 to $12.00 and set a “negative” rating on the stock in a research note on Tuesday, November 12th. The Goldman Sachs Group reiterated a “neutral” rating and set a $29.00 target price on shares of RXO in a research note on Monday, November 18th. Finally, Citigroup lowered shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, RXO currently has an average rating of “Hold” and an average price target of $26.27.

RXO Stock Down 0.3 %

RXO opened at $25.22 on Tuesday. The firm has a market cap of $4.06 billion, a P/E ratio of -12.74, a price-to-earnings-growth ratio of 15.82 and a beta of 1.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33. The business has a 50 day moving average price of $27.22 and a 200 day moving average price of $27.80. RXO has a twelve month low of $18.75 and a twelve month high of $32.82.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. RXO’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS. Research analysts forecast that RXO will post 0.12 EPS for the current year.

Institutional Investors Weigh In On RXO

Large investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in RXO in the third quarter worth $28,000. Nomura Asset Management Co. Ltd. lifted its position in RXO by 68.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after buying an additional 570 shares in the last quarter. GAMMA Investing LLC grew its holdings in RXO by 40.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock worth $50,000 after acquiring an additional 510 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in RXO in the 2nd quarter valued at about $112,000. Finally, KBC Group NV raised its stake in shares of RXO by 28.1% in the third quarter. KBC Group NV now owns 4,055 shares of the company’s stock worth $114,000 after acquiring an additional 890 shares during 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.