Wells Fargo & Company Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price target decreased by analysts at Wells Fargo & Company from $22.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 5.03% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group cut their price target on RXO from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Barclays dropped their target price on RXO from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Truist Financial initiated coverage on RXO in a report on Thursday, March 13th. They set a “buy” rating and a $24.00 price objective for the company. Finally, Morgan Stanley lowered their target price on RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, RXO presently has a consensus rating of “Hold” and an average target price of $25.33.

RXO Price Performance

Shares of RXO opened at $19.04 on Thursday. RXO has a twelve month low of $17.50 and a twelve month high of $32.82. The company has a market capitalization of $3.11 billion, a P/E ratio of -8.98, a price-to-earnings-growth ratio of 4.55 and a beta of 1.67. The firm has a 50 day moving average of $21.56 and a 200 day moving average of $25.29. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22.

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

Institutional Trading of RXO

A number of hedge funds have recently bought and sold shares of RXO. Vanguard Group Inc. boosted its stake in RXO by 13.2% during the fourth quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock worth $410,137,000 after buying an additional 2,009,937 shares during the period. FIL Ltd grew its position in RXO by 10.4% in the 4th quarter. FIL Ltd now owns 6,327,889 shares of the company’s stock valued at $150,857,000 after acquiring an additional 596,158 shares in the last quarter. State Street Corp boosted its stake 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. Geode Capital Management LLC grew its holdings in shares of RXO by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company’s stock valued at $80,185,000 after purchasing an additional 307,492 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in RXO by 27.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,375,410 shares of the company’s stock valued at $56,629,000 after buying an additional 508,330 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

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.