582,500 Shares in QXO, Inc. $QXO Purchased by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC purchased a new stake in QXO, Inc. (NYSE:QXO) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 582,500 shares of the company’s stock, valued at approximately $11,312,000. QXO comprises 1.6% of Zweig DiMenna Associates LLC’s holdings, making the stock its 21st largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Carnegie Investment Counsel grew its position in shares of QXO by 38.6% in the first quarter. Carnegie Investment Counsel now owns 309,644 shares of the company’s stock valued at $6,013,000 after purchasing an additional 86,265 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of QXO by 748.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock worth $16,928,000 after purchasing an additional 774,138 shares during the period. Baillie Gifford & Co. lifted its holdings in QXO by 16,117.6% during the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after purchasing an additional 14,644,305 shares during the last quarter. JNBA Financial Advisors acquired a new stake in QXO during the 4th quarter worth approximately $992,000. Finally, Griffin Asset Management Inc. bought a new stake in QXO in the 1st quarter valued at $2,057,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

Wall Street Analysts Forecast Growth

QXO has been the topic of a number of research reports. Oppenheimer upped their price objective on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Royal Bank Of Canada reissued an “outperform” rating and issued a $27.00 target price on shares of QXO in a research report on Friday, July 10th. Finally, Stephens decreased their price target on shares of QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Fifteen investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, QXO currently has a consensus rating of “Moderate Buy” and an average price target of $30.57.

QXO Stock Up 3.9%

Shares of NYSE QXO opened at $14.44 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. QXO, Inc. has a 52 week low of $13.82 and a 52 week high of $27.61. The stock has a market capitalization of $10.47 billion, a P/E ratio of -15.86, a PEG ratio of 3.56 and a beta of 2.23. The stock’s fifty day moving average is $16.69 and its 200 day moving average is $20.36.

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

QXO 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.