RXO (NYSE:RXO) Price Target Cut to $30.00 by Analysts at Jefferies Financial Group

RXO (NYSE:RXO) had its price objective decreased by stock analysts at Jefferies Financial Group from $33.00 to $30.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 21.46% from the company’s current price.

A number of other analysts also recently issued reports on the company. Susquehanna cut their price objective on RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research report on Tuesday, November 12th. The Goldman Sachs Group reissued a “neutral” rating and set a $29.00 price objective on shares of RXO in a research report on Monday, November 18th. Wells Fargo & Company cut 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. Benchmark reissued a “hold” rating on shares of RXO in a research report on Tuesday, October 15th. Finally, Oppenheimer restated an “outperform” rating and set a $31.00 target price on shares of RXO in a report on Tuesday, September 17th. Two research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.20.

RXO Price Performance

NYSE RXO traded down $0.50 during mid-day trading on Friday, hitting $24.70. The stock had a trading volume of 215,742 shares, compared to its average volume of 782,991. RXO has a twelve month low of $18.75 and a twelve month high of $32.82. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -12.47, a PEG ratio of 15.82 and a beta of 1.52. The firm’s 50 day moving average is $27.22 and its 200 day moving average is $27.80. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.33.

RXO (NYSE:RXO) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) 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 business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. During the same period last year, the company earned $0.05 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts forecast that RXO will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RXO

Several institutional investors have recently added to or reduced their stakes in RXO. Wilmington Savings Fund Society FSB acquired a new position in RXO during the third quarter worth approximately $28,000. Nomura Asset Management Co. Ltd. increased its position in RXO by 68.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after buying an additional 570 shares during the period. GAMMA Investing LLC increased its position in RXO by 40.0% during the third quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock worth $50,000 after buying an additional 510 shares during the period. KBC Group NV increased its position in RXO by 28.1% during the third quarter. KBC Group NV now owns 4,055 shares of the company’s stock worth $114,000 after buying an additional 890 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in RXO during the second quarter worth approximately $112,000. Hedge funds and other institutional investors 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.