QXO (NYSE:QXO) Sets New 1-Year Low – What’s Next?

QXO, Inc. (NYSE:QXO)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $15.50 and last traded at $15.6760, with a volume of 2573922 shares traded. The stock had previously closed at $16.70.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. BNP Paribas Exane assumed coverage on QXO in a research note on Monday, March 16th. They issued an “outperform” rating and a $30.00 price objective for the company. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday. KeyCorp increased their target price on shares of QXO from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Zacks Research downgraded shares of QXO from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, Oppenheimer boosted their price target on shares of QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Sixteen analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, QXO has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

QXO Stock Performance

The stock has a 50-day moving average of $20.22 and a 200 day moving average of $21.11. The stock has a market cap of $11.96 billion, a PE ratio of -18.09, a P/E/G ratio of 4.19 and a beta of 2.40. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35.

QXO (NYSE:QXO) last issued its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. The firm’s revenue was up 12716.3% on a year-over-year basis. Equities analysts predict that QXO, Inc. will post 0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On QXO

Several hedge funds and other institutional investors have recently bought and sold shares of QXO. Janus Henderson Group PLC raised its stake in QXO by 3.8% during the first quarter. Janus Henderson Group PLC now owns 269,200 shares of the company’s stock worth $5,224,000 after purchasing an additional 9,787 shares during the period. Arkadios Wealth Advisors grew its stake in shares of QXO by 17.2% in the 1st quarter. Arkadios Wealth Advisors now owns 59,040 shares of the company’s stock valued at $1,147,000 after buying an additional 8,644 shares during the period. Opal Capital LLC increased its holdings in shares of QXO by 2,185.2% during the 1st quarter. Opal Capital LLC now owns 255,846 shares of the company’s stock worth $4,969,000 after buying an additional 244,650 shares during the last quarter. Amundi increased its holdings in shares of QXO by 11.3% during the 1st quarter. Amundi now owns 1,264,434 shares of the company’s stock worth $24,555,000 after buying an additional 127,933 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of QXO by 22.4% during the 1st quarter. California State Teachers Retirement System now owns 704,530 shares of the company’s stock valued at $13,682,000 after buying an additional 129,164 shares during the period. 58.68% of the stock is currently owned by institutional investors and hedge funds.

About QXO

QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.