RXO (NYSE:RXO) Receives New Coverage from Analysts at Citigroup

Citigroup assumed coverage on shares of RXO (NYSE:RXO) in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $33.00 price target on the stock. Citigroup’s target price would indicate a potential upside of 19.48% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Oppenheimer restated an “outperform” rating and issued a $31.00 price objective on shares of RXO in a report on Tuesday, September 17th. UBS Group upped their price target on shares of RXO from $22.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Morgan Stanley lifted their price objective on RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Benchmark restated a “hold” rating on shares of RXO in a report on Tuesday, August 13th. Finally, Barclays lifted their price target on RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.23.

RXO Trading Up 1.5 %

NYSE RXO opened at $27.62 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The stock’s 50-day simple moving average is $27.90 and its two-hundred day simple moving average is $24.53. RXO has a twelve month low of $16.94 and a twelve month high of $32.82. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -306.89, a PEG ratio of 13.28 and a beta of 1.34.

RXO (NYSE:RXO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $930.00 million for the quarter, compared to analysts’ expectations of $934.14 million. RXO had a positive return on equity of 2.22% and a negative net margin of 0.55%. RXO’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.08 EPS. Research analysts forecast that RXO will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On RXO

Several institutional investors and hedge funds have recently modified their holdings of RXO. MFN Partners Management LP lifted its holdings in RXO by 11.0% in the second quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock worth $452,679,000 after buying an additional 1,722,301 shares during the period. Vanguard Group Inc. raised its position in shares of RXO by 0.3% in the 1st 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 in the last quarter. Swedbank AB bought a new stake in shares of RXO during the first quarter valued at approximately $76,982,000. Douglas Lane & Associates LLC boosted its position in shares of 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 purchasing an additional 52,378 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in RXO by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,032,929 shares of the company’s stock worth $53,153,000 after purchasing an additional 176,041 shares during the period. 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.