40,260 Shares in QXO, Inc. $QXO Purchased by IPG Investment Advisors LLC

IPG Investment Advisors LLC bought a new position in shares of QXO, Inc. (NYSE:QXO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,260 shares of the company’s stock, valued at approximately $471,000.

A number of other institutional investors have also recently bought and sold shares of QXO. Center for Financial Planning Inc. bought a new stake in shares of QXO during the 3rd quarter valued at $26,000. Root Financial Partners LLC boosted its position in shares of QXO by 73,350.0% in the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after purchasing an additional 1,467 shares during the last quarter. Signaturefd LLC boosted its position in shares of QXO by 166.6% in the 3rd quarter. Signaturefd LLC now owns 2,973 shares of the company’s stock worth $35,000 after purchasing an additional 1,858 shares during the last quarter. MADDEN SECURITIES Corp bought a new position in shares of QXO in the 3rd quarter worth $36,000. Finally, CoreCap Advisors LLC acquired a new stake in shares of QXO during the third quarter worth $41,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Trading Up 8.4%

QXO opened at $12.70 on Thursday. The firm’s fifty day moving average is $11.84 and its two-hundred day moving average is $17.15. The firm has a market cap of $13.17 billion, a PE ratio of -14.11, a price-to-earnings-growth ratio of 2.61 and a beta of 2.42. QXO, Inc. has a twelve month low of $10.03 and a twelve month high of $27.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.29 and a current ratio of 4.11.

QXO (NYSE:QXO) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. Equities research analysts anticipate that QXO, Inc. will post 0.22 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on QXO. Zacks Research upgraded QXO from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Truist Financial cut their target price on QXO from $26.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Citigroup reduced their target price on QXO from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, July 13th. DA Davidson set a $20.00 target price on QXO in a research report on Friday, October 9th. Finally, Wells Fargo & Company lowered their price target on QXO from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.77.

QXO Profile

QXO, Inc is a building products distribution company serving professional contractors and other customers in the construction industry. Its product offerings include roofing materials, siding, windows, doors, insulation and related exterior building products.

The company operates through a network of distribution locations in the United States and Canada, providing materials, delivery services and product support to contractors and other building-industry customers. QXO’s strategy is focused on expanding its presence in the building products distribution market through organic growth and acquisitions.

QXO was formerly known as SilverSun Technologies, Inc and adopted the QXO name as part of a strategic transformation led by investor Brad Jacobs.