RXO (NYSE:RXO) Given New $24.00 Price Target at The Goldman Sachs Group

RXO (NYSE:RXO) had its target price cut by The Goldman Sachs Group from $28.00 to $24.00 in a research report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the stock. Citigroup lowered shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research note on Tuesday, November 12th. Barclays cut their price target on RXO from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Stifel Nicolaus decreased their price objective on RXO from $27.00 to $24.00 and set a “hold” rating for the company in a report on Thursday. Morgan Stanley dropped their target price on RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Benchmark reissued a “hold” rating on shares of RXO in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.14.

RXO Stock Performance

Shares of RXO stock opened at $21.46 on Thursday. 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 fifty day moving average of $25.79 and a 200 day moving average of $27.51. RXO has a 1 year low of $18.75 and a 1 year high of $32.82.

RXO (NYSE:RXO) last released its 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 positive return on equity of 1.64% and a negative net margin of 6.81%. Equities research analysts anticipate that RXO will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RXO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RXO. Loomis Sayles & Co. L P purchased a new stake in shares of RXO during the third quarter worth about $27,964,000. Zimmer Partners LP acquired a new stake in RXO in the 3rd quarter worth about $22,680,000. Franklin Resources Inc. acquired a new stake in RXO in the 3rd quarter worth about $22,344,000. Victory Capital Management Inc. increased its stake in RXO by 1,772.4% during the 3rd quarter. Victory Capital Management Inc. now owns 761,230 shares of the company’s stock worth $21,314,000 after buying an additional 720,574 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of RXO by 13.3% during the third quarter. State Street Corp now owns 5,124,927 shares of the company’s stock valued at $143,498,000 after acquiring an additional 602,741 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

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.