RXO (NYSE:RXO) Shares Gap Up to $20.21

RXO, Inc. (NYSE:RXO)’s share price gapped up prior to trading on Monday . The stock had previously closed at $20.21, but opened at $22.32. RXO shares last traded at $23.37, with a volume of 540,795 shares changing hands.

Wall Street Analysts Forecast Growth

RXO has been the subject of a number of research analyst reports. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Wednesday, June 12th. Susquehanna upped their price target on shares of RXO from $15.00 to $16.00 and gave the company a “negative” rating in a report on Monday, March 25th. Stephens reissued an “equal weight” rating and set a $22.00 price objective on shares of RXO in a research note on Monday, May 6th. TD Cowen upped their target price on RXO from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Finally, Raymond James assumed coverage on RXO in a research report on Wednesday, May 15th. They set a “market perform” rating for the company. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.90.

RXO Price Performance

The company has a 50 day moving average of $20.19 and a 200 day moving average of $21.20. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -259.67, a price-to-earnings-growth ratio of 7.72 and a beta of 1.27.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The business had revenue of $913.00 million for the quarter, compared to analyst estimates of $929.50 million. During the same period in the prior year, the firm posted $0.11 EPS. The company’s revenue was down 9.6% on a year-over-year basis. As a group, equities research analysts forecast that RXO, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Mfn Partners, Lp purchased 5,139 shares of the company’s stock in a transaction on Friday, April 12th. The stock was bought at an average cost of $20.39 per share, for a total transaction of $104,784.21. Following the completion of the purchase, the insider now directly owns 15,593,694 shares of the company’s stock, valued at approximately $317,955,420.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 1,128,060 shares of company stock valued at $22,099,090 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On RXO

Several institutional investors have recently bought and sold shares of the business. SG Capital Management LLC boosted its position in RXO by 139.3% during the 1st quarter. SG Capital Management LLC now owns 213,892 shares of the company’s stock worth $4,678,000 after purchasing an additional 124,525 shares during the period. Boston Partners boosted its position in shares of RXO by 150.0% in the first quarter. Boston Partners now owns 42,526 shares of the company’s stock worth $930,000 after buying an additional 25,519 shares during the period. Swedbank AB acquired a new stake in shares of RXO in the first quarter valued at about $76,982,000. Comerica Bank raised its holdings in shares of RXO by 219.0% during the 1st quarter. Comerica Bank now owns 170,377 shares of the company’s stock valued at $3,726,000 after buying an additional 116,974 shares during the period. Finally, Silvercrest Asset Management Group LLC lifted its position in RXO by 0.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 654,337 shares of the company’s stock worth $14,310,000 after acquiring an additional 2,913 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

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.