Harbor Capital Advisors Inc. Makes New Investment in RXO, Inc. (NYSE:RXO)

Harbor Capital Advisors Inc. purchased a new stake in RXO, Inc. (NYSE:RXO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 84,057 shares of the company’s stock, valued at approximately $2,004,000. Harbor Capital Advisors Inc. owned 0.05% of RXO as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. MFN Partners Management LP raised its position in RXO by 11.0% during the 2nd quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock valued at $452,679,000 after purchasing an additional 1,722,301 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in RXO in the third quarter worth about $27,964,000. Zimmer Partners LP bought a new position in RXO during the 3rd quarter worth about $22,680,000. Driehaus Capital Management LLC purchased a new position in RXO during the 2nd quarter valued at about $19,965,000. Finally, Franklin Resources Inc. bought a new stake in shares of RXO in the 3rd quarter valued at about $22,344,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Susquehanna dropped 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. Citigroup downgraded RXO from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Tuesday, November 12th. Wells Fargo & Company decreased their price objective on RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Jefferies Financial Group cut their target price on RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Benchmark reissued a “hold” rating on shares of RXO in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $26.77.

RXO Stock Down 3.7 %

RXO stock opened at $24.26 on Friday. The business’s 50-day simple moving average is $27.15 and its two-hundred day simple moving average is $27.81. 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 company has a market cap of $3.90 billion, a PE ratio of -12.25, a PEG ratio of 15.82 and a beta of 1.52. RXO, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $32.82.

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

RXO 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.