QXO, Inc. (NYSE:QXO) Given Consensus Recommendation of “Moderate Buy” by Analysts

QXO, Inc. (NYSE:QXO) has earned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $29.7143.

Several brokerages have commented on QXO. KeyCorp lowered their price objective on QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Wells Fargo & Company set a $18.00 price target on shares of QXO in a research report on Tuesday, July 28th. Royal Bank Of Canada restated an “outperform” rating and issued a $27.00 price objective on shares of QXO in a report on Friday, July 10th. Oppenheimer raised their target price on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research report on Friday, May 29th.

QXO Price Performance

QXO stock opened at $15.38 on Thursday. The stock has a market capitalization of $15.96 billion, a price-to-earnings ratio of -16.90, a PEG ratio of 2.72 and a beta of 2.28. The firm’s 50-day moving average price is $15.57 and its two-hundred day moving average price is $19.23. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. QXO has a 12-month low of $13.18 and a 12-month high of $27.61.

QXO (NYSE:QXO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share 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 business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. The company’s quarterly revenue was up 12716.3% on a year-over-year basis. As a group, equities analysts predict that QXO will post 0.3 earnings per share for the current year.

Institutional Investors Weigh In On QXO

Several institutional investors have recently modified their holdings of QXO. Arax Advisory Partners purchased a new stake in shares of QXO during the 4th quarter valued at about $25,000. LRI Investments LLC boosted its holdings in shares of QXO by 129.1% in the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after buying an additional 835 shares during the last quarter. Root Financial Partners LLC grew its position in QXO by 73,350.0% during the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock valued at $29,000 after buying an additional 1,467 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in QXO by 57.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after buying an additional 575 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in QXO during the second quarter valued at approximately $30,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

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.