Wells Fargo & Company Lowers RXO (NYSE:RXO) Price Target to $28.00

RXO (NYSE:RXO) had its price target cut by Wells Fargo & Company from $31.00 to $28.00 in a report issued on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages also recently weighed in on RXO. Oppenheimer restated an “outperform” rating and set a $31.00 price target on shares of RXO in a report on Tuesday, September 17th. Benchmark reaffirmed a “hold” rating on shares of RXO in a report on Tuesday, October 15th. Susquehanna lowered their price target on shares of RXO from $16.00 to $12.00 and set a “negative” rating for the company in a report on Tuesday, November 12th. The Goldman Sachs Group restated a “neutral” rating and issued a $29.00 price objective on shares of RXO in a report on Monday, November 18th. Finally, Citigroup downgraded shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a research note on Tuesday, November 12th. Two 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $26.27.

RXO Price Performance

NYSE:RXO opened at $25.30 on Tuesday. The stock has a 50 day moving average price of $27.36 and a 200 day moving average price of $27.83. 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 stock has a market cap of $4.07 billion, a PE ratio of -12.78, a P/E/G ratio of 15.82 and a beta of 1.52. RXO has a one year low of $18.75 and a one year high of $32.82.

RXO (NYSE:RXO) last posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating 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 firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. During the same quarter last year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts expect that RXO will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in RXO by 40.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock valued at $50,000 after acquiring an additional 510 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of RXO by 68.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after purchasing an additional 570 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of RXO by 2.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 25,537 shares of the company’s stock worth $668,000 after purchasing an additional 575 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of RXO by 4.9% during the third quarter. Glenmede Trust Co. NA now owns 13,923 shares of the company’s stock worth $390,000 after purchasing an additional 650 shares during the period. Finally, Arizona State Retirement System grew its position in RXO by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 32,906 shares of the company’s stock valued at $860,000 after buying an additional 751 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

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.