QXO (NYSE:QXO) Sets New 1-Year Low – Should You Sell?

QXO, Inc. (NYSE:QXO)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $14.75 and last traded at $15.0530, with a volume of 23081364 shares changing hands. The stock had previously closed at $16.40.

Analyst Ratings Changes

Several equities analysts have recently issued reports on QXO shares. Royal Bank Of Canada decreased their target price on QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. KeyCorp increased their price target 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. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. Benchmark restated a “buy” rating on shares of QXO in a report on Friday, February 20th. Finally, Zacks Research raised shares of QXO from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Fifteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.14.

QXO Price Performance

The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average price of $18.85 and a two-hundred day moving average price of $20.98. The firm has a market cap of $12.04 billion, a P/E ratio of -18.25, a PEG ratio of 4.25 and a beta of 2.30.

QXO (NYSE:QXO) last posted 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). The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.QXO’s revenue for the quarter was up 12716.3% on a year-over-year basis. Equities analysts anticipate that QXO, Inc. will post 0.2 earnings per share for the current year.

Institutional Investors Weigh In On QXO

Hedge funds and other institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. grew its position in QXO by 16,117.6% in the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after purchasing an additional 14,644,305 shares in the last quarter. MTCO Ltd. bought a new position in shares of QXO in the 3rd quarter valued at about $208,534,000. Fred Alger Management LLC bought a new position in shares of QXO in the 3rd quarter valued at about $173,053,000. Schf GPE LLC increased its position in shares of QXO by 204.3% in the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after acquiring an additional 8,943,089 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in QXO by 17.2% during the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after acquiring an additional 8,131,331 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

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.