QXO, Inc. (NYSE:QXO) Stock Has Consensus Price Target of $25.14 According to Brokerages

QXO, Inc. (NYSE:QXO) has been given a consensus recommendation of “Moderate Buy” by the seventeen research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $24.77.

Several equities analysts have recently issued reports on QXO shares. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a research report on Wednesday, August 26th. Truist Financial dropped their price target on shares of QXO from $26.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Morgan Stanley began coverage on shares of QXO in a report on Tuesday, August 4th. They issued an “overweight” rating and a $35.00 price target for the company. Zacks Research raised shares of QXO from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Citigroup decreased their price target on shares of QXO from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, July 13th.

QXO Stock Down 4.7%

Shares of QXO stock opened at $10.50 on Tuesday. The business’s fifty day moving average price is $12.22 and its two-hundred day moving average price is $15.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.11 and a quick ratio of 3.29. The company has a market capitalization of $10.89 billion, a P/E ratio of -11.67, a PEG ratio of 2.21 and a beta of 2.30. QXO has a 1-year low of $10.03 and a 1-year high of $27.61.

QXO (NYSE:QXO) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. As a group, research analysts forecast that QXO will post 0.24 EPS for the current year.

Institutional Investors Weigh In On QXO

Hedge funds have recently modified their holdings of the stock. Carnegie Investment Counsel lifted its stake in QXO by 38.6% in the 1st quarter. Carnegie Investment Counsel now owns 309,644 shares of the company’s stock worth $6,013,000 after acquiring an additional 86,265 shares in the last quarter. CI Investments Inc. increased its holdings in shares of QXO by 4.1% in the 1st quarter. CI Investments Inc. now owns 2,598,840 shares of the company’s stock valued at $50,469,000 after purchasing an additional 102,838 shares during the period. Gainplan LLC increased its holdings in shares of QXO by 390.2% in the 3rd quarter. Gainplan LLC now owns 502,025 shares of the company’s stock valued at $5,869,000 after purchasing an additional 399,605 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its position in shares of QXO by 25.9% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 5,703,964 shares of the company’s stock worth $66,679,000 after purchasing an additional 1,173,274 shares in the last quarter. Finally, Hudson Value Partners LLC lifted its position in shares of QXO by 87.6% in the second quarter. Hudson Value Partners LLC now owns 215,998 shares of the company’s stock worth $3,732,000 after purchasing an additional 100,856 shares in the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Company Profile

QXO, Inc is a building products distribution company serving professional contractors and other customers in the construction industry. Its product offerings include roofing materials, siding, windows, doors, insulation and related exterior building products.

The company operates through a network of distribution locations in the United States and Canada, providing materials, delivery services and product support to contractors and other building-industry customers. QXO’s strategy is focused on expanding its presence in the building products distribution market through organic growth and acquisitions.

QXO was formerly known as SilverSun Technologies, Inc and adopted the QXO name as part of a strategic transformation led by investor Brad Jacobs.