William Blair Begins Coverage on QXO (NASDAQ:QXO)

Equities researchers at William Blair initiated coverage on shares of QXO (NASDAQ:QXO) in a research report issued on Wednesday,Briefing.com Automated Import reports. The firm set an “outperform” rating on the stock.

A number of other analysts have also commented on the company. Wolfe Research assumed coverage on QXO in a report on Friday, June 6th. They issued an “outperform” rating and a $44.00 price target on the stock. Baird R W upgraded QXO to a “strong-buy” rating in a research note on Thursday, June 12th. Robert W. Baird began coverage on QXO in a research report on Thursday, June 12th. They set an “outperform” rating and a $32.00 price target for the company. Finally, Oppenheimer began coverage on shares of QXO in a report on Wednesday, June 11th. They issued an “outperform” rating and a $27.00 price objective on the stock. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $34.33.

QXO Trading Up 0.4%

QXO opened at $20.17 on Wednesday. The stock has a market capitalization of $11.66 billion, a P/E ratio of -2.21, a P/E/G ratio of 4.09 and a beta of 2.38. QXO has a 12 month low of $10.61 and a 12 month high of $157.28. The firm’s fifty day simple moving average is $15.72 and its 200 day simple moving average is $14.77.

Institutional Investors Weigh In On QXO

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Affinity Partners GP LP acquired a new position in QXO during the fourth quarter worth $260,941,000. Vanguard Group Inc. grew its position in shares of QXO by 146.1% in the 1st quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company’s stock valued at $334,539,000 after acquiring an additional 14,667,571 shares during the period. Blue Investment Opportunities LLC Project Breeze Series 1 bought a new position in shares of QXO in the 1st quarter valued at about $118,142,000. Federated Hermes Inc. acquired a new position in shares of QXO during the 4th quarter worth about $50,532,000. Finally, JPMorgan Chase & Co. lifted its stake in QXO by 523.9% in the 4th quarter. JPMorgan Chase & Co. now owns 877,902 shares of the company’s stock valued at $13,959,000 after purchasing an additional 737,192 shares during the last quarter. 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.