Soltis Investment Advisors LLC Makes New Investment in QXO, Inc. $QXO

Soltis Investment Advisors LLC purchased a new position in QXO, Inc. (NYSE:QXO) in the 3rd quarter, Holdings Channel reports. The firm purchased 52,770 shares of the company’s stock, valued at approximately $617,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Root Financial Partners LLC boosted its position in shares of 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 last quarter. NFSG Corp raised its position in QXO by 39.6% in the 1st quarter. NFSG Corp now owns 2,198 shares of the company’s stock worth $43,000 after buying an additional 623 shares during the last quarter. Center for Financial Planning Inc. bought a new position in QXO during the 3rd quarter valued at about $26,000. Whipplewood Advisors LLC lifted its stake in QXO by 12,604.8% during the 1st quarter. Whipplewood Advisors LLC now owns 2,668 shares of the company’s stock valued at $52,000 after acquiring an additional 2,647 shares during the period. Finally, Signaturefd LLC lifted its stake in QXO by 166.6% during the 3rd quarter. Signaturefd LLC now owns 2,973 shares of the company’s stock valued at $35,000 after acquiring an additional 1,858 shares during the period. 58.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

QXO has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on shares of QXO from $26.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. Benchmark reissued a “buy” rating on shares of QXO in a report on Friday, August 14th. DA Davidson set a $20.00 price objective on shares of QXO in a report on Friday, October 9th. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Morgan Stanley started coverage on shares of QXO in a report on Tuesday, August 4th. They issued an “overweight” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.77.

QXO Trading Down 3.1%

QXO stock opened at $11.03 on Friday. QXO, Inc. has a 52-week low of $10.03 and a 52-week high of $27.61. The company has a market cap of $11.44 billion, a P/E ratio of -12.26, a P/E/G ratio of 2.46 and a beta of 2.30. The company has a quick ratio of 3.29, a current ratio of 4.11 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $11.94 and a two-hundred day simple moving average of $17.34.

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 the consensus estimate of $0.08. The firm had revenue of $3.25 billion for 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%. Analysts predict that QXO, Inc. will post 0.22 EPS for the current year.

QXO Company Profile

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.