Insider Buying: RXO, Inc. (NYSE:RXO) Director Purchases 5,100 Shares of Stock

RXO, Inc. (NYSE:RXO) Director Christine S. Breves purchased 5,100 shares of RXO stock in a transaction dated Friday, November 17th. The shares were bought at an average price of $19.90 per share, for a total transaction of $101,490.00. Following the acquisition, the director now owns 6,948 shares in the company, valued at $138,265.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

RXO Trading Down 0.6 %

NYSE RXO traded down $0.12 during trading on Monday, hitting $19.85. The stock had a trading volume of 545,119 shares, compared to its average volume of 1,047,641. The company has a market capitalization of $2.32 billion and a PE ratio of -1,997.00. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average price of $18.64 and a 200 day moving average price of $19.84. RXO, Inc. has a twelve month low of $15.67 and a twelve month high of $23.74.

RXO (NYSE:RXO) last released its earnings results on Tuesday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. RXO had a positive return on equity of 10.55% and a negative net margin of 0.05%. The company had revenue of $976.00 million during the quarter, compared to the consensus estimate of $957.88 million. During the same period in the previous year, the company posted $0.11 EPS. RXO’s revenue was down 14.2% compared to the same quarter last year. As a group, equities research analysts forecast that RXO, Inc. will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On RXO

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio purchased a new stake in RXO during the second quarter worth approximately $1,058,000. Truist Financial Corp purchased a new stake in RXO in the first quarter valued at approximately $580,000. Mutual of America Capital Management LLC purchased a new stake in RXO in the first quarter valued at approximately $471,000. Arizona State Retirement System lifted its stake in RXO by 9.3% in the second quarter. Arizona State Retirement System now owns 32,822 shares of the company’s stock valued at $744,000 after buying an additional 2,803 shares during the last quarter. Finally, Kirr Marbach & Co. LLC IN lifted its stake in RXO by 0.5% in the second quarter. Kirr Marbach & Co. LLC IN now owns 191,062 shares of the company’s stock valued at $4,331,000 after buying an additional 1,035 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RXO shares. JPMorgan Chase & Co. lowered RXO from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $17.00 to $16.00 in a report on Wednesday, October 11th. Oppenheimer reiterated an “outperform” rating and set a $24.00 price target on shares of RXO in a report on Monday, August 7th. Morgan Stanley reduced their price target on RXO from $20.00 to $18.00 and set an “equal weight” rating on the stock in a report on Monday, October 2nd. Susquehanna reduced their price target on RXO from $14.00 to $13.00 and set a “negative” rating on the stock in a report on Tuesday, October 3rd. Finally, Stephens reduced their price target on RXO from $23.00 to $19.00 and set an “equal weight” rating on the stock in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, RXO presently has a consensus rating of “Hold” and an average target price of $20.81.

RXO Company Profile

RXO, Inc provides full truckload freight transportation brokering services. The company also offers brokered services for managed transportation, last mile, and freight forwarding. RXO, Inc was founded in 2022 and is based in Charlotte, North Carolina.