RXO (NYSE:RXO) Given “Neutral” Rating at The Goldman Sachs Group

RXO (NYSE:RXO)‘s stock had its “neutral” rating reaffirmed by research analysts at The Goldman Sachs Group in a note issued to investors on Monday,Benzinga reports. They presently have a $29.00 target price on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 6.42% from the stock’s previous close.

A number of other research analysts also recently weighed in on RXO. TD Cowen upped their price objective on shares of RXO from $23.00 to $28.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Jefferies Financial Group lowered their price target on RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Benchmark reissued a “hold” rating on shares of RXO in a report on Tuesday, October 15th. UBS Group upped their target price on RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Citigroup cut 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. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, RXO has an average rating of “Hold” and an average target price of $26.47.

RXO Stock Performance

Shares of RXO stock opened at $27.25 on Monday. RXO has a 52-week low of $18.75 and a 52-week high of $32.82. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The stock has a market cap of $4.38 billion, a PE ratio of -13.76, a price-to-earnings-growth ratio of 14.68 and a beta of 1.33. The business has a 50-day simple moving average of $27.85 and a 200-day simple moving average of $26.14.

RXO (NYSE:RXO) last announced its quarterly earnings results 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 positive return on equity of 1.64% and a negative net margin of 6.81%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. During the same period in the previous year, the company posted $0.05 earnings per share. RXO’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts expect that RXO will post 0.12 EPS for the current year.

Hedge Funds Weigh In On RXO

Several hedge funds and other institutional investors have recently modified their holdings of RXO. GAMMA Investing LLC grew its stake in RXO by 40.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock valued at $50,000 after acquiring an additional 510 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of RXO by 68.7% during 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. Oppenheimer Asset Management Inc. grew its position in shares of RXO by 2.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 25,537 shares of the company’s stock valued at $668,000 after purchasing an additional 575 shares in the last quarter. Glenmede Trust Co. NA grew its position in shares of RXO by 4.9% in the third quarter. Glenmede Trust Co. NA now owns 13,923 shares of the company’s stock valued at $390,000 after purchasing an additional 650 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of RXO by 2.3% in the second quarter. Arizona State Retirement System now owns 32,906 shares of the company’s stock valued at $860,000 after purchasing an additional 751 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

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.