QXO, Inc. (NYSE:QXO) Receives Average Rating of “Moderate Buy” from Analysts

QXO, Inc. (NYSE:QXO) has earned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and fifteen have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $30.7857.

A number of equities research analysts have recently weighed in on the company. Zacks Research downgraded QXO from a “hold” rating to a “strong sell” rating in a research report on Thursday. Stephens decreased their price target on QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. KeyCorp lowered their price objective on QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Royal Bank Of Canada reissued an “outperform” rating and set a $27.00 price objective on shares of QXO in a report on Friday. Finally, Citigroup dropped their price objective on QXO from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, May 15th.

Institutional Trading of QXO

A number of hedge funds have recently modified their holdings of the company. Arax Advisory Partners acquired a new position in shares of QXO in the 4th quarter valued at approximately $25,000. Russell Investments Group Ltd. bought a new position in QXO in the second quarter valued at approximately $30,000. Root Financial Partners LLC lifted its stake in QXO by 73,350.0% in 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 in the last quarter. LRI Investments LLC boosted its holdings in shares of QXO by 129.1% in the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after buying an additional 835 shares during the period. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of QXO by 57.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after buying an additional 575 shares during the period. 58.68% of the stock is currently owned by institutional investors and hedge funds.

QXO Price Performance

Shares of QXO stock traded up $0.43 during mid-day trading on Friday, reaching $15.02. 37,792,134 shares of the stock were exchanged, compared to its average volume of 26,290,496. The company has a market cap of $10.89 billion, a price-to-earnings ratio of -16.50, a price-to-earnings-growth ratio of 3.84 and a beta of 2.23. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $16.91 and a 200 day simple moving average of $20.47. QXO has a fifty-two week low of $13.82 and a fifty-two week high of $27.61.

QXO (NYSE:QXO) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) 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 business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. The business’s revenue was up 12716.3% on a year-over-year basis. On average, sell-side analysts predict that QXO will post 0.2 EPS 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.