RXO (NYSE:RXO) Sets New 1-Year High at $30.86

RXO, Inc. (NYSE:RXO) hit a new 52-week high during trading on Thursday . The company traded as high as $30.86 and last traded at $30.74, with a volume of 333986 shares trading hands. The stock had previously closed at $29.23.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RXO shares. Raymond James started coverage on RXO in a report on Wednesday, May 15th. They issued a “market perform” rating for the company. TD Cowen lifted their price objective on shares of RXO from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Benchmark reissued a “hold” rating on shares of RXO in a report on Wednesday, June 12th. Barclays boosted their price objective on shares of RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of RXO from $16.00 to $25.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.00.

RXO Stock Performance

The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. The company’s fifty day moving average is $23.64 and its 200 day moving average is $21.96.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. The firm had revenue of $913.00 million for the quarter, compared to analysts’ expectations of $929.50 million. During the same period last year, the firm earned $0.11 earnings per share. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. Research analysts expect that RXO, Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling at RXO

In other news, major shareholder Mfn Partners, Lp bought 105,065 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $20.07 per share, for a total transaction of $2,108,654.55. Following the completion of the acquisition, the insider now owns 17,280,434 shares of the company’s stock, valued at $346,818,310.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders purchased 105,487 shares of company stock worth $2,117,263. 1.80% of the stock is currently owned by insiders.

Institutional Trading of RXO

A number of institutional investors have recently modified their holdings of RXO. Swedbank AB purchased a new stake in RXO in the 1st quarter worth approximately $76,982,000. MFN Partners Management LP raised its holdings in shares of RXO by 19.8% during the first quarter. MFN Partners Management LP now owns 15,588,555 shares of the company’s stock valued at $340,922,000 after acquiring an additional 2,580,330 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in RXO by 1,459.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,628,080 shares of the company’s stock worth $42,574,000 after acquiring an additional 1,523,650 shares during the period. Motley Fool Asset Management LLC boosted its holdings in RXO by 287.9% in the first quarter. Motley Fool Asset Management LLC now owns 1,582,324 shares of the company’s stock valued at $34,605,000 after acquiring an additional 1,174,361 shares in the last quarter. Finally, Norges Bank purchased a new position in RXO during the 4th quarter valued at $24,250,000. 92.73% of the stock is currently 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.