Truist Financial Initiates Coverage on RXO (NYSE:RXO)

Analysts at Truist Financial started coverage on shares of RXO (NYSE:RXO) in a research note issued on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $24.00 price target on the stock. Truist Financial’s price objective suggests a potential upside of 29.69% from the company’s current price.

A number of other analysts have also recently issued reports on RXO. Wells Fargo & Company reduced their price objective on RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Benchmark reissued a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft assumed coverage on RXO in a report on Friday, March 7th. They set a “hold” rating and a $19.00 target price on the stock. Morgan Stanley cut their target price on RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Finally, Jefferies Financial Group cut their target price on RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, RXO has an average rating of “Hold” and an average target price of $25.80.

RXO Stock Performance

Shares of RXO stock opened at $18.51 on Thursday. The stock has a market cap of $3.02 billion, a PE ratio of -8.73, a price-to-earnings-growth ratio of 4.55 and a beta of 1.67. RXO has a 12 month low of $17.50 and a 12 month high of $32.82. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $22.55 and a 200-day simple moving average of $25.83.

RXO (NYSE:RXO) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. On average, sell-side analysts anticipate that RXO will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On RXO

A number of institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund increased its stake in shares of RXO by 1.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company’s stock worth $783,000 after purchasing an additional 500 shares during the period. Blue Trust Inc. increased its stake in RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock valued at $27,000 after acquiring an additional 510 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in RXO by 1.8% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company’s stock valued at $712,000 after acquiring an additional 518 shares during the period. Mutual of America Capital Management LLC increased its stake in RXO by 2.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company’s stock valued at $505,000 after acquiring an additional 551 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in RXO by 68.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after acquiring an additional 570 shares during the period. 92.73% of the stock is currently owned by 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.