QXO (NYSE:QXO) Price Target Lowered to $31.00 at Citigroup

QXO (NYSE:QXO) had its price target reduced by equities research analysts at Citigroup from $33.00 to $31.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 25.13% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Vertical Research started coverage on shares of QXO in a research note on Tuesday, October 21st. They issued a “buy” rating and a $30.00 price objective on the stock. Loop Capital began coverage on shares of QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 price target on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. KeyCorp set a $28.00 price objective on QXO in a research report on Wednesday, October 1st. Finally, Truist Financial lowered their target price on QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.43.

QXO Stock Up 6.0%

NYSE:QXO traded up $1.40 during trading hours on Thursday, hitting $24.78. 7,610,754 shares of the company’s stock traded hands, compared to its average volume of 11,798,964. The stock’s fifty day moving average price is $19.53 and its two-hundred day moving average price is $20.12. The firm has a market cap of $16.71 billion, a P/E ratio of -56.28, a P/E/G ratio of 2.62 and a beta of 2.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06. QXO has a twelve month low of $11.85 and a twelve month high of $25.02.

QXO (NYSE:QXO) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.78 billion. QXO had a positive return on equity of 3.70% and a negative net margin of 3.81%.The firm’s revenue was up 20726.7% compared to the same quarter last year. On average, research analysts expect that QXO will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of QXO

Several large investors have recently modified their holdings of QXO. Vanguard Group Inc. raised its holdings in QXO by 17.2% in the 3rd quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after acquiring an additional 8,131,331 shares during the period. Affinity Partners GP LP increased its stake in shares of QXO by 99.1% in the second quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock worth $703,745,000 after purchasing an additional 16,260,163 shares during the period. Alpha Wave Global LP acquired a new position in shares of QXO during the 2nd quarter worth about $525,366,000. Finepoint Capital LP boosted its stake in QXO by 5.4% during the 3rd quarter. Finepoint Capital LP now owns 22,295,615 shares of the company’s stock valued at $424,954,000 after purchasing an additional 1,142,747 shares during the period. Finally, Schf GPE LLC boosted its stake in QXO by 204.3% during the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after purchasing an additional 8,943,089 shares during the period. 58.68% of the stock is owned by institutional investors.

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.