RXO (NYSE:RXO) Stock Price Down 5.8% on Analyst Downgrade

RXO, Inc. (NYSE:RXO) shares fell 5.8% during trading on Friday after The Goldman Sachs Group lowered their price target on the stock from $24.00 to $21.00. The Goldman Sachs Group currently has a neutral rating on the stock. RXO traded as low as $13.26 and last traded at $13.25. 57,110 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 1,087,916 shares. The stock had previously closed at $14.07.

Several other equities research analysts have also commented on RXO. Citigroup reduced their price target on shares of RXO from $23.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday. Susquehanna dropped their price target on shares of RXO from $18.00 to $13.00 and set a “negative” rating on the stock in a research note on Wednesday, March 26th. Wells Fargo & Company reduced their price objective on RXO from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft initiated coverage on RXO in a report on Friday, March 7th. They set a “hold” rating and a $19.00 price target for the company. Finally, Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $23.40.

Institutional Trading of RXO

Large investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its holdings 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 valued at $783,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. lifted its position 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 purchasing an additional 510 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of RXO by 1.8% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company’s stock worth $712,000 after buying an additional 518 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of RXO by 2.7% in the 4th quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company’s stock worth $505,000 after buying an additional 551 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of RXO by 68.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after buying an additional 570 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

RXO Trading Down 7.9 %

The stock has a market cap of $2.12 billion, a P/E ratio of -6.20, a P/E/G ratio of 4.55 and a beta of 1.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The stock’s fifty day moving average is $19.07 and its 200 day moving average is $24.39.

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

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.