The Goldman Sachs Group Cuts RXO (NYSE:RXO) Price Target to $24.00

RXO (NYSE:RXO) had its price target lowered by equities research analysts at The Goldman Sachs Group from $28.00 to $24.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 11.93% from the stock’s current price.

RXO has been the subject of several other reports. Wells Fargo & Company dropped their target price on RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Citigroup lowered RXO from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a research note on Tuesday, November 12th. Morgan Stanley dropped their price target on RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday. Jefferies Financial Group dropped 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. Finally, Stifel Nicolaus dropped their price target on RXO from $27.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.14.

RXO Trading Down 0.2 %

RXO stock traded down $0.05 during trading on Thursday, hitting $21.44. The company’s stock had a trading volume of 870,656 shares, compared to its average volume of 1,072,993. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -10.81, a P/E/G ratio of 3.98 and a beta of 1.53. The stock’s fifty day moving average is $25.96 and its 200 day moving average is $27.55. RXO has a 1-year low of $18.75 and a 1-year high of $32.82. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33.

RXO (NYSE:RXO) last released its earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. As a group, equities research analysts predict that RXO will post 0.12 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RXO. Blue Trust Inc. grew its position in shares of RXO by 79.7% in the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock worth $27,000 after acquiring an additional 510 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of RXO in the 3rd quarter worth approximately $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of RXO by 228.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company’s stock worth $30,000 after purchasing an additional 868 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of RXO by 68.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after purchasing an additional 570 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of RXO by 407.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company’s stock worth $43,000 after purchasing an additional 1,445 shares during the last quarter. 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.