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

Shares of QXO, Inc. (NYSE:QXO) have received an average rating of “Moderate Buy” from the sixteen research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, twelve have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $33.0833.

A number of equities analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of QXO in a research note on Tuesday, August 5th. They issued an “overweight” rating and a $30.00 price objective for the company. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research note on Wednesday, October 8th. Royal Bank Of Canada assumed coverage on shares of QXO in a research note on Monday, July 21st. They issued an “outperform” rating and a $33.00 price objective for the company. Zacks Research cut shares of QXO from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Finally, Raymond James Financial assumed coverage on shares of QXO in a research note on Friday, September 5th. They issued an “outperform” rating and a $28.00 price objective for the company.

Hedge Funds Weigh In On QXO

Large investors have recently made changes to their positions in the company. Amundi boosted its stake in shares of QXO by 26.4% during the 1st quarter. Amundi now owns 715,087 shares of the company’s stock worth $9,861,000 after purchasing an additional 149,504 shares during the period. Brown Miller Wealth Management LLC purchased a new position in shares of QXO during the 2nd quarter worth about $592,000. Deltec Asset Management LLC boosted its stake in shares of QXO by 250.0% during the 2nd quarter. Deltec Asset Management LLC now owns 35,000 shares of the company’s stock worth $754,000 after purchasing an additional 25,000 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of QXO during the 1st quarter worth about $200,000. Finally, Truist Financial Corp boosted its stake in shares of QXO by 15.9% during the 2nd quarter. Truist Financial Corp now owns 127,151 shares of the company’s stock worth $2,739,000 after purchasing an additional 17,399 shares during the period. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Stock Performance

QXO opened at $18.52 on Thursday. The stock has a market capitalization of $12.47 billion, a price-to-earnings ratio of -88.16, a PEG ratio of 2.59 and a beta of 2.25. The company has a fifty day moving average of $20.16 and a 200 day moving average of $18.55. QXO has a fifty-two week low of $11.85 and a fifty-two week high of $24.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.15 and a current ratio of 3.00.

QXO (NYSE:QXO) last posted its earnings results on Thursday, August 14th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.07. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.87 billion. As a group, sell-side analysts forecast that QXO will post -0.13 earnings per share 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.