The Goldman Sachs Group Reaffirms “Neutral” Rating for RXO (NYSE:RXO)

RXO (NYSE:RXO)‘s stock had its “neutral” rating reiterated by research analysts at The Goldman Sachs Group in a report issued on Monday, MarketBeat Ratings reports. They presently have a $29.00 price target on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 5.72% from the company’s previous close.

A number of other research firms have also recently issued reports on RXO. Benchmark reaffirmed a “hold” rating on shares of RXO in a report on Tuesday, October 15th. Citigroup downgraded RXO from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Tuesday, November 12th. Jefferies Financial Group cut their price objective on RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. UBS Group lifted their target price on RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $31.00 price target on shares of RXO in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.47.

RXO Trading Up 1.1 %

NYSE RXO opened at $27.43 on Monday. The firm has a market cap of $4.41 billion, a PE ratio of -13.85, a price-to-earnings-growth ratio of 14.68 and a beta of 1.33. RXO has a 52 week low of $18.75 and a 52 week high of $32.82. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average price of $27.88 and a 200 day moving average price of $26.24.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $956.19 million. During the same quarter last year, the firm earned $0.05 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that RXO will post 0.12 EPS for the current fiscal year.

Institutional Trading of RXO

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MFN Partners Management LP lifted its position in shares of RXO by 11.0% during the 2nd quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock valued at $452,679,000 after buying an additional 1,722,301 shares in the last quarter. Vanguard Group Inc. lifted its holdings in RXO by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,294,483 shares of the company’s stock valued at $290,750,000 after purchasing an additional 45,977 shares in the last quarter. State Street Corp grew its position in shares of RXO by 13.3% in the third quarter. State Street Corp now owns 5,124,927 shares of the company’s stock valued at $143,498,000 after purchasing an additional 602,741 shares during the period. Swedbank AB purchased a new stake in shares of RXO during the first quarter worth about $76,982,000. Finally, Geode Capital Management LLC raised its position in shares of RXO by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company’s stock worth $85,563,000 after purchasing an additional 441,994 shares during the last quarter. 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.