Oppenheimer Asset Management Inc. Raises Stock Holdings in RXO, Inc. (NYSE:RXO)

Oppenheimer Asset Management Inc. boosted its stake in RXO, Inc. (NYSE:RXO) by 11.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,456 shares of the company’s stock after buying an additional 3,943 shares during the period. Oppenheimer Asset Management Inc.’s holdings in RXO were worth $893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RXO. Loomis Sayles & Co. L P purchased a new stake in RXO in the 3rd quarter valued at about $27,964,000. Zimmer Partners LP purchased a new stake in RXO in the 3rd quarter valued at about $22,680,000. Franklin Resources Inc. purchased a new stake in RXO in the 3rd quarter valued at about $22,344,000. Victory Capital Management Inc. raised its holdings in RXO by 1,772.4% in the 3rd quarter. Victory Capital Management Inc. now owns 761,230 shares of the company’s stock valued at $21,314,000 after buying an additional 720,574 shares during the period. Finally, State Street Corp raised its holdings in RXO by 13.3% in the 3rd quarter. State Street Corp now owns 5,124,927 shares of the company’s stock valued at $143,498,000 after buying an additional 602,741 shares during the period. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

RXO Stock Performance

Shares of RXO stock opened at $20.18 on Wednesday. The business has a 50-day simple moving average of $23.37 and a 200-day simple moving average of $26.34. 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 company has a market cap of $3.24 billion, a PE ratio of -9.52, a P/E/G ratio of 4.55 and a beta of 1.53. RXO, Inc. has a one year low of $18.75 and a one year high of $32.82.

RXO (NYSE:RXO) last announced its quarterly earnings results 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, equities research analysts forecast that RXO, Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Citigroup lowered shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Tuesday, November 12th. Stifel Nicolaus cut their price target on shares of RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Jefferies Financial Group cut their price target on shares of RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Benchmark reiterated a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Finally, The Goldman Sachs Group cut their price target on shares of RXO from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.46.

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.