Wells Fargo & Company Reaffirms “Equal Weight” Rating for RXO (NYSE:RXO)

Wells Fargo & Company reissued their equal weight rating on shares of RXO (NYSE:RXO) in a research note released on Monday morning, Marketbeat reports. The firm currently has a $31.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. Susquehanna cut their target price on shares of RXO from $20.00 to $16.00 and set a “negative” rating for the company in a research report on Thursday, September 26th. Barclays upped their price objective on RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. UBS Group raised their target price on RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Citigroup initiated coverage on shares of RXO in a research report on Wednesday, October 9th. They set a “buy” rating and a $33.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.29.

RXO Price Performance

RXO stock opened at $27.48 on Monday. The stock’s 50 day simple moving average is $27.84 and its 200 day simple moving average is $25.99. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. RXO has a 12-month low of $18.75 and a 12-month high of $32.82.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. During the same period last year, the company earned $0.05 EPS. RXO’s revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts expect that RXO will post 0.12 earnings per share for the current fiscal year.

Institutional Trading of RXO

Institutional investors have recently made changes to their positions in the business. MFN Partners Management LP boosted its stake in RXO by 11.0% in the 2nd quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock worth $452,679,000 after purchasing an additional 1,722,301 shares during the period. Vanguard Group Inc. boosted its position in shares of RXO by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,294,483 shares of the company’s stock worth $290,750,000 after acquiring an additional 45,977 shares during the last quarter. Swedbank AB bought a new position in shares of RXO during the first quarter worth $76,982,000. Douglas Lane & Associates LLC grew its stake in RXO by 2.0% during the second quarter. Douglas Lane & Associates LLC now owns 2,698,525 shares of the company’s stock valued at $70,566,000 after acquiring an additional 52,378 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in RXO by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,068,380 shares of the company’s stock valued at $57,915,000 after acquiring an additional 136,886 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Company Profile

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.