QXO, Inc. (NYSE:QXO) Receives Consensus Rating of “Moderate Buy” from Analysts

QXO, Inc. (NYSE:QXO) has been given a consensus rating of “Moderate Buy” by the seventeen analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $29.7143.

QXO has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. Wells Fargo & Company set a $18.00 target price on shares of QXO in a research note on Tuesday, July 28th. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Stephens cut their target price on shares of QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Finally, Wall Street Zen upgraded shares of QXO from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th.

Institutional Trading of QXO

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in QXO by 67.5% in the 1st quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock worth $1,620,000 after buying an additional 48,248 shares during the period. AQR Capital Management LLC acquired a new position in shares of QXO during the first quarter worth approximately $615,000. Millennium Management LLC boosted its position in shares of QXO by 6.6% in the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock valued at $4,361,000 after acquiring an additional 20,067 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of QXO by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock valued at $9,449,000 after acquiring an additional 81,758 shares during the period. Finally, American Century Companies Inc. acquired a new stake in shares of QXO in the second quarter worth $837,000. Institutional investors own 58.68% of the company’s stock.

QXO Trading Up 4.0%

NYSE:QXO opened at $15.95 on Thursday. The stock has a fifty day simple moving average of $15.67 and a 200 day simple moving average of $19.40. The firm has a market capitalization of $16.55 billion, a price-to-earnings ratio of -17.53, a price-to-earnings-growth ratio of 2.32 and a beta of 2.28. QXO has a 1-year low of $13.18 and a 1-year high of $27.61. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35.

QXO (NYSE:QXO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The firm had revenue of $1.73 billion during 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 business’s revenue was up 12716.3% on a year-over-year basis. Sell-side analysts forecast that QXO will post 0.33 earnings per share for the current 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. 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.