Brokerages Set QXO, Inc. (NYSE:QXO) PT at $32.43

QXO, Inc. (NYSE:QXO) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $32.4286.

QXO has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating on shares of QXO in a research note on Friday. Loop Capital initiated coverage on shares of QXO in a research note on Thursday, December 11th. They issued a “buy” rating and a $31.00 price target on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. William Blair reaffirmed an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. Finally, Citigroup decreased their target price on QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th.

QXO Price Performance

NYSE QXO opened at $23.82 on Friday. QXO has a 52-week low of $11.85 and a 52-week high of $26.24. The firm’s 50 day moving average price is $20.73 and its 200-day moving average price is $20.26. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06. The company has a market cap of $16.06 billion, a PE ratio of -54.14, a P/E/G ratio of 2.78 and a beta of 2.44.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in QXO by 17.2% in the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock valued at $1,054,471,000 after buying an additional 8,131,331 shares during the last quarter. Affinity Partners GP LP lifted its holdings in QXO by 99.1% during the 2nd quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock worth $703,745,000 after buying an additional 16,260,163 shares in the last quarter. Alpha Wave Global LP acquired a new stake in shares of QXO in the second quarter valued at $525,366,000. Finepoint Capital LP raised its position in QXO by 5.4% in the 3rd quarter. Finepoint Capital LP now owns 22,295,615 shares of the company’s stock valued at $424,954,000 after purchasing an additional 1,142,747 shares in the last quarter. Finally, Schf GPE LLC increased its stake in shares of QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after buying an additional 8,943,089 shares during the period. 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.