QXO (NYSE:QXO) Sets New 12-Month Low – Here’s Why

QXO, Inc. (NYSE:QXO)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $14.75 and last traded at $15.0530, with a volume of 23081364 shares. The stock had previously closed at $16.40.

Analyst Ratings Changes

Several research analysts have recently weighed in on QXO shares. KeyCorp boosted their price target on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Benchmark restated a “buy” rating on shares of QXO in a research note on Friday, February 20th. Zacks Research cut QXO from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, Citigroup decreased their price target on QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, QXO presently has a consensus rating of “Moderate Buy” and an average target price of $31.14.

QXO Stock Down 8.2%

The company has a 50 day moving average price of $18.96 and a two-hundred day moving average price of $21.02. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. The stock has a market cap of $10.92 billion, a PE ratio of -16.54, a PEG ratio of 4.21 and a beta of 2.30.

QXO (NYSE:QXO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The company’s revenue was up 12716.3% compared to the same quarter last year. Analysts expect that QXO, Inc. will post 0.2 EPS for the current year.

Institutional Trading of QXO

A number of hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. increased its position in QXO by 6.8% during the fourth quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company’s stock valued at $122,000 after acquiring an additional 400 shares during the last quarter. Cherry Creek Investment Advisors Inc. increased its position in QXO by 0.6% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company’s stock valued at $1,633,000 after acquiring an additional 474 shares during the last quarter. NewEdge Advisors LLC increased its position in QXO by 42.4% during the fourth quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. Maple Capital Management Inc. increased its position in QXO by 4.7% during the fourth quarter. Maple Capital Management Inc. now owns 11,988 shares of the company’s stock valued at $231,000 after acquiring an additional 543 shares during the last quarter. Finally, Allworth Financial LP increased its position in QXO by 27.2% during the fourth quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock valued at $50,000 after acquiring an additional 552 shares during the last quarter. Hedge funds and other 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. 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.