RXO (NYSE:RXO) Given New $24.00 Price Target at The Goldman Sachs Group

RXO (NYSE:RXO) had its target price lowered by investment analysts at The Goldman Sachs Group from $28.00 to $24.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 17.22% from the company’s previous close.

A number of other brokerages have also recently issued reports on RXO. Susquehanna lowered their price objective on RXO from $16.00 to $12.00 and set a “negative” rating on the stock in a research note on Tuesday, November 12th. Barclays dropped their price target on shares of RXO from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Jefferies Financial Group reduced their price objective on shares of RXO from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Benchmark restated a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company reduced their price target on RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, RXO has a consensus rating of “Hold” and a consensus price target of $26.14.

RXO Stock Down 4.6 %

RXO opened at $20.48 on Thursday. RXO has a twelve month low of $18.75 and a twelve month high of $32.82. The company’s 50-day moving average price is $25.59 and its two-hundred day moving average price is $27.44. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -10.34, a PEG ratio of 3.98 and a beta of 1.53. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

RXO (NYSE:RXO) last posted its quarterly earnings data 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 analysts expect that RXO will post 0.12 earnings per share for the current year.

Institutional Investors Weigh In On RXO

Several hedge funds have recently bought and sold shares of RXO. Rialto Wealth Management LLC bought a new position in shares of RXO in the 4th quarter worth $267,000. Raymond James Financial Inc. bought a new position in RXO in the fourth quarter valued at $1,588,000. Victory Capital Management Inc. raised its position in RXO by 11.6% during the fourth quarter. Victory Capital Management Inc. now owns 849,340 shares of the company’s stock valued at $20,248,000 after purchasing an additional 88,110 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in RXO by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company’s stock worth $51,138,000 after purchasing an additional 76,653 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted 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 in the last quarter. 92.73% of the stock is currently owned by institutional investors.

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.