K.J. Harrison & Partners Inc Takes Position in QXO, Inc. $QXO

K.J. Harrison & Partners Inc bought a new stake in QXO, Inc. (NYSE:QXO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 50,000 shares of the company’s stock, valued at approximately $1,077,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in QXO by 146.1% in the first quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company’s stock worth $334,539,000 after acquiring an additional 14,667,571 shares in the last quarter. Blue Investment Opportunities LLC Project Breeze Series 1 bought a new stake in QXO in the first quarter worth $118,142,000. Catawba River Capital boosted its holdings in QXO by 127.8% in the second quarter. Catawba River Capital now owns 1,116,119 shares of the company’s stock worth $24,041,000 after acquiring an additional 626,067 shares in the last quarter. TD Asset Management Inc boosted its holdings in QXO by 189.1% in the second quarter. TD Asset Management Inc now owns 891,482 shares of the company’s stock worth $19,203,000 after acquiring an additional 583,092 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in QXO in the first quarter worth $6,534,000. Institutional investors own 58.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a report on Wednesday, October 8th. Raymond James Financial assumed coverage on QXO in a report on Friday, September 5th. They issued an “outperform” rating and a $28.00 target price for the company. Truist Financial reduced their target price on QXO from $30.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Wells Fargo & Company assumed coverage on QXO in a report on Tuesday, August 5th. They issued an “overweight” rating and a $30.00 target price for the company. Finally, Royal Bank Of Canada assumed coverage on QXO in a report on Monday, July 21st. They issued an “outperform” rating and a $33.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.85.

QXO Stock Performance

NYSE:QXO opened at $17.67 on Monday. The stock has a 50-day simple moving average of $19.81 and a two-hundred day simple moving average of $19.06. QXO, Inc. has a 52-week low of $11.85 and a 52-week high of $24.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.15 and a current ratio of 3.00. The firm has a market capitalization of $11.90 billion, a PE ratio of -84.12, a P/E/G ratio of 2.58 and a beta of 2.25.

QXO (NYSE:QXO) last released its earnings results on Thursday, August 14th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.07. QXO had a positive return on equity of 2.15% and a negative net margin of 1.09%.The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Analysts forecast that QXO, Inc. will post -0.13 EPS for the current year.

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.