Barclays Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price objective decreased by research analysts at Barclays from $24.00 to $22.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 15.02% from the stock’s current price.

Several other research analysts also recently weighed in on RXO. Benchmark restated a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. The Goldman Sachs Group decreased their price objective on shares of RXO from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Truist Financial started coverage on RXO in a research report on Thursday, March 13th. They set a “buy” rating and a $24.00 target price on the stock. Stifel Nicolaus reduced their price target on RXO from $27.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Finally, Morgan Stanley lowered their price objective on RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $24.80.

RXO Trading Up 1.1 %

Shares of NYSE:RXO traded up $0.21 during midday trading on Wednesday, reaching $19.13. The company’s stock had a trading volume of 51,358 shares, compared to its average volume of 1,034,535. RXO has a 1 year low of $17.50 and a 1 year high of $32.82. The business has a 50 day moving average price of $21.05 and a 200 day moving average price of $25.09. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of -9.02, a price-to-earnings-growth ratio of 4.55 and a beta of 1.67. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22.

RXO (NYSE:RXO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. Research analysts forecast that RXO will post 0.31 EPS for the current year.

Institutional Trading of RXO

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in RXO by 24.8% in the fourth quarter. Wellington Management Group LLP now owns 1,952,884 shares of the company’s stock worth $46,557,000 after buying an additional 387,766 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in RXO by 48.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,115 shares of the company’s stock worth $432,000 after acquiring an additional 5,874 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in RXO in the 4th quarter valued at about $3,738,000. Mackenzie Financial Corp boosted its position in shares of RXO by 37.2% during the 4th quarter. Mackenzie Financial Corp now owns 9,967 shares of the company’s stock valued at $238,000 after purchasing an additional 2,700 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of RXO by 15.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 285,504 shares of the company’s stock worth $6,806,000 after purchasing an additional 37,916 shares during 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.