QXO, Inc. $QXO Shares Purchased by Arkadios Wealth Advisors

Arkadios Wealth Advisors boosted its stake in QXO, Inc. (NYSE:QXO) by 48.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 19,755 shares of the company’s stock after buying an additional 6,485 shares during the period. Arkadios Wealth Advisors’ holdings in QXO were worth $426,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake 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 purchasing an additional 14,667,571 shares in the last quarter. Blue Investment Opportunities LLC Project Breeze Series 1 acquired a new stake in QXO during the first quarter valued at approximately $118,142,000. Massachusetts Financial Services Co. MA raised its stake in QXO by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,885,908 shares of the company’s stock valued at $25,535,000 after buying an additional 8,322 shares in the last quarter. Catawba River Capital raised its stake in QXO by 127.8% during the second quarter. Catawba River Capital now owns 1,116,119 shares of the company’s stock valued at $24,041,000 after buying an additional 626,067 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in QXO by 189.1% during the second quarter. TD Asset Management Inc now owns 891,482 shares of the company’s stock valued at $19,203,000 after buying an additional 583,092 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Down 2.0%

QXO stock opened at $16.95 on Wednesday. The firm’s 50-day simple moving average is $19.65 and its 200 day simple moving average is $19.12. QXO, Inc. has a fifty-two week low of $11.85 and a fifty-two week high of $24.69. The stock has a market cap of $11.42 billion, a PE ratio of -80.71, a price-to-earnings-growth ratio of 2.58 and a beta of 2.25. The company has a quick ratio of 2.15, a current ratio of 3.00 and a debt-to-equity ratio of 0.38.

QXO (NYSE:QXO) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.11 EPS 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 for the quarter, compared to analyst estimates of $1.87 billion. As a group, sell-side analysts predict that QXO, Inc. will post -0.13 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. KeyCorp set a $28.00 price target on QXO in a research report on Wednesday, October 1st. Truist Financial dropped their target price on shares of QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Benchmark raised shares of QXO to a “strong-buy” rating in a report on Monday, August 25th. Morgan Stanley initiated coverage on shares of QXO in a report on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.85.

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.