QXO (NYSE:QXO) Hits New 52-Week Low – Time to Sell?

Shares of QXO, Inc. (NYSE:QXO) reached a new 52-week low during trading on Wednesday . The company traded as low as $14.60 and last traded at $14.5820, with a volume of 2764719 shares traded. The stock had previously closed at $15.25.

Wall Street Analyst Weigh In

QXO has been the subject of a number of research analyst reports. Robert W. Baird decreased their price target on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. BNP Paribas Exane began coverage on QXO in a report on Monday, March 16th. They set an “outperform” rating and a $30.00 target price for the company. Royal Bank Of Canada dropped their target price on QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. Finally, Oppenheimer lifted their price objective on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Fifteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.86.

QXO Stock Down 7.5%

The business’s fifty day simple moving average is $17.21 and its two-hundred day simple moving average is $20.62. The company has a market cap of $10.23 billion, a PE ratio of -15.56, a PEG ratio of 4.05 and a beta of 2.23. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arax Advisory Partners acquired a new stake in QXO in the 4th quarter valued at $25,000. LRI Investments LLC increased its stake in shares of QXO by 129.1% during the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after purchasing an additional 835 shares in the last quarter. Root Financial Partners LLC lifted its stake in QXO by 73,350.0% in the 1st 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. Newbridge Financial Services Group Inc. boosted its holdings in QXO by 57.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after buying an additional 575 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in QXO during the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

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.