QXO, Inc. (NYSE:QXO) Given Consensus Rating of “Moderate Buy” by Brokerages

QXO, Inc. (NYSE:QXO) has received an average recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $32.5333.

Several analysts have issued reports on QXO shares. Oppenheimer upped their price target on shares of QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday. KeyCorp lifted their target price on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Citigroup reduced their price objective on QXO from $33.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Wall Street Zen cut shares of QXO from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Finally, BNP Paribas Exane assumed coverage on shares of QXO in a research note on Monday, March 16th. They set an “outperform” rating and a $30.00 price objective on the stock.

QXO Stock Performance

Shares of QXO opened at $19.83 on Monday. The firm has a market cap of $14.38 billion, a P/E ratio of -33.62, a PEG ratio of 3.14 and a beta of 2.40. QXO has a twelve month low of $13.09 and a twelve month high of $27.61. The firm’s 50 day moving average price is $21.39 and its two-hundred day moving average price is $21.14. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58.

QXO (NYSE:QXO) last announced its earnings results on Friday, February 27th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The company’s revenue was up 14725.0% compared to the same quarter last year. On average, analysts forecast that QXO will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On QXO

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its stake in shares of QXO by 16,117.6% in the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after acquiring an additional 14,644,305 shares during the last quarter. MTCO Ltd. acquired a new stake in QXO during the 3rd quarter worth approximately $208,534,000. Fred Alger Management LLC bought a new stake in QXO during the 3rd quarter worth approximately $173,053,000. Schf GPE LLC increased its position in QXO by 204.3% in the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after acquiring an additional 8,943,089 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of QXO by 17.2% during the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after purchasing an additional 8,131,331 shares during the period. Institutional investors own 58.68% of the company’s stock.

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. 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.