QXO, Inc. $QXO Shares Bought by Jackson Hill Advisors LLC

Jackson Hill Advisors LLC raised its position in QXO, Inc. (NYSE:QXO) by 80.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 941,000 shares of the company’s stock after acquiring an additional 419,000 shares during the quarter. QXO makes up approximately 8.4% of Jackson Hill Advisors LLC’s portfolio, making the stock its 5th biggest position. Jackson Hill Advisors LLC’s holdings in QXO were worth $18,152,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of QXO. Royal Bank of Canada boosted its stake in QXO by 67.5% in the first quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock valued at $1,620,000 after acquiring an additional 48,248 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of QXO during the first quarter worth $615,000. Millennium Management LLC raised its holdings in shares of QXO by 6.6% during the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock worth $4,361,000 after purchasing an additional 20,067 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of QXO by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock worth $9,449,000 after purchasing an additional 81,758 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of QXO during the second quarter worth $837,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank Of Canada decreased their price objective on shares of QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Citigroup lowered their price target on shares of QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. KeyCorp boosted their price target on shares of QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Finally, Zacks Research lowered shares of QXO from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Sixteen analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

QXO Stock Performance

QXO opened at $16.52 on Thursday. The firm has a market capitalization of $11.98 billion, a PE ratio of -18.15, a PEG ratio of 4.18 and a beta of 2.30. QXO, Inc. has a twelve month low of $15.50 and a twelve month high of $27.61. The firm’s 50-day moving average price is $19.33 and its 200 day moving average price is $21.05. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35.

QXO (NYSE:QXO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The business’s revenue was up 12716.3% compared to the same quarter last year. As a group, sell-side analysts expect that QXO, Inc. 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.