Polianta Ltd Acquires Shares of 74,100 QXO, Inc. $QXO

Polianta Ltd bought a new position in QXO, Inc. (NYSE:QXO) in the 3rd quarter, Holdings Channel reports. The firm bought 74,100 shares of the company’s stock, valued at approximately $1,412,000.

Other hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new stake in QXO in the 2nd quarter worth about $25,000. American Capital Advisory LLC grew its stake in shares of QXO by 258.0% during the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock valued at $25,000 after buying an additional 841 shares during the last quarter. Allworth Financial LP raised its holdings in shares of QXO by 1,740.9% in the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock worth $26,000 after buying an additional 1,149 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in QXO during the 2nd quarter valued at $28,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of QXO during the second quarter worth $30,000. 58.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on QXO shares. Zacks Research cut shares of QXO from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Truist Financial dropped their target price on shares of QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Vertical Research initiated coverage on shares of QXO in a research report on Tuesday, October 21st. They set a “buy” rating and a $30.00 target price on the stock. KeyCorp set a $28.00 price objective on QXO in a research note on Wednesday, October 1st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, QXO presently has an average rating of “Moderate Buy” and an average price target of $32.57.

QXO Price Performance

Shares of QXO opened at $21.57 on Friday. The company has a 50 day moving average of $19.03 and a two-hundred day moving average of $20.10. The company has a quick ratio of 2.24, a current ratio of 3.06 and a debt-to-equity ratio of 0.37. QXO, Inc. has a twelve month low of $11.85 and a twelve month high of $24.69. The company has a market cap of $14.54 billion, a price-to-earnings ratio of -49.01, a price-to-earnings-growth ratio of 3.30 and a beta of 2.42.

QXO (NYSE:QXO) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.78 billion. QXO had a positive return on equity of 3.70% and a negative net margin of 3.81%.QXO’s revenue was up 20726.7% on a year-over-year basis. As a group, analysts predict that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

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.