QXO, Inc. (NYSE:QXO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of QXO, Inc. (NYSE:QXO) have been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $28.00.

A number of brokerages have recently issued reports on QXO. Robert W. Baird decreased their target price on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a research note on Wednesday, August 26th. Citigroup decreased their price objective on QXO from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Stephens reduced their target price on QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Finally, KeyCorp reduced their price objective on shares of QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st.

QXO Price Performance

Shares of QXO stock opened at $13.42 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.11 and a quick ratio of 3.29. The company has a market capitalization of $13.92 billion, a P/E ratio of -14.91, a P/E/G ratio of 2.32 and a beta of 2.32. The company’s 50-day simple moving average is $14.53 and its two-hundred day simple moving average is $17.96. QXO has a one year low of $12.80 and a one year high of $27.61.

QXO (NYSE:QXO) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%.The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. As a group, equities analysts anticipate that QXO will post 0.29 EPS for the current year.

Hedge Funds Weigh In On QXO

Large investors have recently bought and sold shares of the business. Arax Advisory Partners purchased a new stake in QXO in the fourth quarter valued at approximately $25,000. LRI Investments LLC raised its position in QXO by 129.1% in the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after purchasing an additional 835 shares during the last quarter. Root Financial Partners LLC raised its position in QXO by 73,350.0% in the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock valued at $29,000 after purchasing an additional 1,467 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in QXO during the 2nd quarter worth $30,000. Finally, NewEdge Advisors LLC raised its holdings in shares of QXO by 42.4% in the fourth quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock valued at $32,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Company Profile

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.