Truist Financial Begins Coverage on RXO (NYSE:RXO)

Investment analysts at Truist Financial assumed coverage on shares of RXO (NYSE:RXO) in a report issued on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $24.00 price target on the stock. Truist Financial’s price target suggests a potential upside of 32.35% from the stock’s previous close.

A number of other brokerages have also weighed in on RXO. Deutsche Bank Aktiengesellschaft began coverage on shares of RXO in a research note on Friday, March 7th. They issued a “hold” rating and a $19.00 target price for the company. Wells Fargo & Company decreased their price objective on RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Barclays dropped their target price on RXO from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Finally, Morgan Stanley lowered their price objective on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, RXO presently has a consensus rating of “Hold” and a consensus price target of $25.80.

RXO Stock Up 2.7 %

NYSE:RXO opened at $18.13 on Thursday. RXO has a 1 year low of $17.50 and a 1 year high of $32.82. The stock has a 50-day moving average price of $22.79 and a two-hundred day moving average price of $25.96. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -8.55, a PEG ratio of 4.55 and a beta of 1.67. The company has a current ratio of 1.26, a quick ratio of 1.33 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 (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 analysts expect that RXO will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position 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 purchasing an additional 2,009,937 shares during the period. FIL Ltd grew its stake 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 buying an additional 596,158 shares during the last quarter. 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 acquiring an additional 602,741 shares during the period. Geode Capital Management LLC raised its holdings in RXO by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company’s stock valued at $80,185,000 after acquiring an additional 307,492 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in RXO by 27.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,375,410 shares of the company’s stock worth $56,629,000 after acquiring an additional 508,330 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

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.