Stifel Nicolaus Issues Positive Forecast for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price objective increased by investment analysts at Stifel Nicolaus from $26.00 to $27.00 in a report released on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 3.21% from the stock’s previous close.

A number of other brokerages have also commented on RXO. Wells Fargo & Company cut their price target on shares of RXO from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Susquehanna reduced their price objective on RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research note on Tuesday, November 12th. Citigroup lowered RXO from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Tuesday, November 12th. Benchmark reissued a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Finally, Jefferies Financial Group lowered their price objective on shares of RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, RXO presently has an average rating of “Hold” and a consensus price target of $26.79.

RXO Price Performance

RXO traded up $0.33 on Thursday, hitting $26.16. 64,612 shares of the stock were exchanged, compared to its average volume of 849,015. 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 has a 12 month low of $18.75 and a 12 month high of $32.82. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of -13.19, a PEG ratio of 3.72 and a beta of 1.52. The business has a 50-day moving average of $26.57 and a two-hundred day moving average of $27.76.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $956.19 million. During the same period last year, the firm posted $0.05 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. Sell-side analysts forecast that RXO will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Loomis Sayles & Co. L P purchased a new stake in shares of RXO during the 3rd quarter valued at $27,964,000. Zimmer Partners LP purchased a new position in RXO in the 3rd quarter worth $22,680,000. Driehaus Capital Management LLC bought a new position in shares of RXO during the second quarter valued at about $19,965,000. Franklin Resources Inc. purchased a new position in shares of RXO in the third quarter worth about $22,344,000. Finally, Victory Capital Management Inc. increased its holdings in shares of RXO by 1,772.4% in the third quarter. Victory Capital Management Inc. now owns 761,230 shares of the company’s stock worth $21,314,000 after buying an additional 720,574 shares during the period. 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.