Citigroup Cuts RXO (NYSE:RXO) Price Target to $15.00

RXO (NYSE:RXO) had its target price cut by Citigroup from $23.00 to $15.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts also recently issued research reports about the company. Barclays dropped their target price on RXO from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley cut their price target on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company cut their price objective on shares of RXO from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft started coverage on shares of RXO in a report on Friday, March 7th. They set a “hold” rating and a $19.00 price target on the stock. Finally, The Goldman Sachs Group reduced their target price on RXO from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.40.

RXO Stock Performance

Shares of RXO stock opened at $14.00 on Tuesday. The business’s fifty day simple moving average is $19.07 and its 200 day simple moving average is $24.39. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. RXO has a 12 month low of $12.39 and a 12 month high of $32.82. The firm has a market capitalization of $2.29 billion, a P/E ratio of -6.60, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 EPS 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%. As a group, analysts anticipate that RXO will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its holdings in shares of RXO by 1.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company’s stock worth $783,000 after buying an additional 500 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of RXO by 79.7% during the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock valued at $27,000 after purchasing an additional 510 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of RXO by 1.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company’s stock worth $712,000 after purchasing an additional 518 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of RXO by 2.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company’s stock worth $505,000 after purchasing an additional 551 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in RXO by 68.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after buying an additional 570 shares in the last quarter. 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.