Leonteq Securities AG Buys 118,686 Shares of QXO, Inc. $QXO

Leonteq Securities AG lifted its position in QXO, Inc. (NYSE:QXO) by 473.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,730 shares of the company’s stock after buying an additional 118,686 shares during the quarter. Leonteq Securities AG’s holdings in QXO were worth $2,791,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Sunbelt Securities Inc. grew its stake in QXO by 6.8% during the fourth quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company’s stock valued at $122,000 after acquiring an additional 400 shares in the last quarter. Cherry Creek Investment Advisors Inc. lifted its stake in QXO by 0.6% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company’s stock worth $1,633,000 after purchasing an additional 474 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in QXO by 42.4% in the 4th quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the period. Maple Capital Management Inc. boosted its holdings in QXO by 4.7% in the 4th quarter. Maple Capital Management Inc. now owns 11,988 shares of the company’s stock valued at $231,000 after purchasing an additional 543 shares during the period. Finally, Allworth Financial LP grew its position in shares of QXO by 27.2% during the 4th quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock valued at $50,000 after purchasing an additional 552 shares in the last quarter. 58.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on QXO shares. KeyCorp decreased their price target on shares of QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday. Stephens dropped their price objective on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. 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 note on Wednesday, May 13th. Finally, Zacks Research upgraded QXO from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Fifteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.86.

QXO Price Performance

Shares of NYSE:QXO opened at $16.23 on Friday. The company’s fifty day moving average price is $17.55 and its 200-day moving average price is $20.73. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. The firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of -17.84, a PEG ratio of 4.24 and a beta of 2.23. QXO, Inc. has a one year low of $14.75 and a one year high of $27.61.

QXO (NYSE:QXO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) 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 company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. The firm’s quarterly revenue was up 12716.3% on a year-over-year basis. On average, equities research analysts anticipate that QXO, Inc. will post 0.2 earnings per share for the current fiscal year.

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.