77,900 Shares in QXO, Inc. $QXO Acquired by Sepio Capital LP

Sepio Capital LP acquired a new stake in shares of QXO, Inc. (NYSE:QXO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 77,900 shares of the company’s stock, valued at approximately $911,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QXO. Red Door Wealth Management LLC increased its position in QXO by 3.9% during the first quarter. Red Door Wealth Management LLC now owns 15,982 shares of the company’s stock worth $310,000 after buying an additional 600 shares during the last quarter. NFSG Corp increased its holdings in QXO by 39.6% in the 1st quarter. NFSG Corp now owns 2,198 shares of the company’s stock valued at $43,000 after buying an additional 623 shares during the period. Strs Ohio lifted its stake in QXO by 1.1% during the first quarter. Strs Ohio now owns 69,393 shares of the company’s stock worth $1,348,000 after purchasing an additional 760 shares during the period. First Bank & Trust grew its stake in shares of QXO by 7.3% in the 2nd quarter. First Bank & Trust now owns 15,047 shares of the company’s stock valued at $260,000 after purchasing an additional 1,026 shares during the period. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of QXO by 7.2% during the third quarter. Valeo Financial Advisors LLC now owns 15,860 shares of the company’s stock valued at $185,000 after acquiring an additional 1,062 shares during the period. 58.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on QXO shares. Citigroup lowered their target price on QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Benchmark reissued a “buy” rating on shares of QXO in a research report on Friday, August 14th. Morgan Stanley initiated coverage on QXO in a research report on Tuesday, August 4th. They issued an “overweight” rating and a $35.00 target price on the stock. Truist Financial reduced their price target on QXO from $26.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Finally, DA Davidson set a $20.00 price target on shares of QXO in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.77.

QXO Stock Performance

NYSE QXO traded down $0.52 during trading on Friday, hitting $10.50. 18,351,373 shares of the company’s stock traded hands, compared to its average volume of 23,743,844. The business has a 50 day moving average of $12.22 and a 200-day moving average of $15.45. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of -11.67, a PEG ratio of 2.32 and a beta of 2.30. 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, Inc. has a 12-month low of $10.03 and a 12-month high of $27.61.

QXO (NYSE:QXO) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. As a group, equities research analysts anticipate that QXO, Inc. will post 0.24 earnings per share for the current fiscal year.

About QXO

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.