According to Fintel, Barclays initiated coverage of RXO (NYSE:RXO) on May 24, 2023, with an overweight recommendation. The average one-year price target for RXO, as of May 11, 2023, is $23.12, with a low of $20.20 and a high of $26.25. The projected revenue and non-GAAP EPS for RXO is $4,660MM and $0.90, respectively, reflecting an increase of 3.69% and a positive outlook for the company.
As of the last quarter, 650 funds or institutions reported positions in RXO, representing an increase of 62.09% in ownership by 249 owners. The average portfolio weight of all funds dedicated to RXO is 0.11%, marking an increase of 6.88%. Total shares owned by institutions increased by 10.46% to 116,502K shares over the last three months. The put/call ratio of RXO is 1.45, indicating a bearish outlook.
Among RXO’s top shareholders are Orbis Allan Gray, which holds 15,274K shares and decreased its portfolio allocation in RXO by 25.70% over the last quarter, and MFN Partners Management, which holds 12,675K shares with no change in the last quarter. IJR – iShares Core S&P Small-Cap ETF holds 8,490K shares, IJH – iShares Core S&P Mid-Cap ETF holds 3,555K shares, and VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,495K shares.
These filings suggest that the outlook for RXO is optimistic, with Barclays’ 14.29% upside forecast supporting the overweight recommendation for the stock.
Source: Fintel.
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