RXO (NYSE:RXO) Given New $20.00 Price Target at Wells Fargo & Company

RXO (NYSE:RXO) had its target price trimmed by Wells Fargo & Company from $22.00 to $20.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other research analysts have also issued reports about the company. Jefferies Financial Group cut their target price on RXO from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of RXO in a research note on Friday, March 7th. They issued a “hold” rating and a $19.00 price objective for the company. Truist Financial began coverage on shares of RXO in a research report on Thursday, March 13th. They set a “buy” rating and a $24.00 target price on the stock. Morgan Stanley lowered their target price on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Finally, Benchmark restated a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, eleven have assigned 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 price target of $25.33.

RXO Stock Performance

NYSE RXO opened at $19.36 on Thursday. The company’s fifty day moving average is $21.44 and its two-hundred day moving average is $25.25. RXO has a 52-week low of $17.50 and a 52-week high of $32.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -9.13, a P/E/G ratio of 4.55 and a beta of 1.67.

RXO (NYSE:RXO) last released its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. Equities research analysts forecast that RXO will post 0.31 EPS for the current year.

Institutional Trading of RXO

A number of hedge funds and other institutional investors have recently made changes to their positions in RXO. Vanguard Group Inc. grew its holdings in RXO by 13.2% during the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock worth $410,137,000 after acquiring an additional 2,009,937 shares during the last quarter. Norges Bank acquired a new position in shares of RXO during the fourth quarter worth approximately $28,342,000. Franklin Resources Inc. grew its stake in shares of RXO by 122.6% during the fourth quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company’s stock valued at $39,971,000 after purchasing an additional 923,307 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of RXO in the third quarter valued at approximately $22,680,000. Finally, State Street Corp increased its holdings 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 in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

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.