Cladis Investment Advisory LLC Boosts Holdings in QXO, Inc. $QXO

Cladis Investment Advisory LLC lifted its position in shares of QXO, Inc. (NYSE:QXO) by 646.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,350 shares of the company’s stock after buying an additional 67,850 shares during the period. Cladis Investment Advisory LLC’s holdings in QXO were worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Natixis Advisors LLC lifted its holdings in QXO by 104.9% in the third quarter. Natixis Advisors LLC now owns 65,566 shares of the company’s stock valued at $1,250,000 after acquiring an additional 33,561 shares during the last quarter. Blair William & Co. IL increased its stake in QXO by 13.7% during the third quarter. Blair William & Co. IL now owns 82,015 shares of the company’s stock worth $1,563,000 after acquiring an additional 9,909 shares during the last quarter. Neuberger Berman Group LLC raised its position in QXO by 36.0% in the third quarter. Neuberger Berman Group LLC now owns 1,108,631 shares of the company’s stock valued at $21,131,000 after purchasing an additional 293,351 shares during the period. Montag A & Associates Inc. acquired a new position in shares of QXO in the 3rd quarter valued at $268,000. Finally, First Eagle Investment Management LLC lifted its stake in shares of QXO by 42.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 199,500 shares of the company’s stock valued at $3,802,000 after purchasing an additional 59,055 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Price Performance

QXO stock opened at $21.86 on Friday. The business’s fifty day moving average price is $23.71 and its 200 day moving average price is $21.01. QXO, Inc. has a 12-month low of $11.97 and a 12-month high of $27.61. The company has a current ratio of 3.58, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $15.49 billion, a PE ratio of -37.05, a P/E/G ratio of 2.97 and a beta of 2.51.

QXO (NYSE:QXO) last announced its earnings results on Wednesday, February 25th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.19 billion. QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. The business’s revenue for the quarter was up 14725.0% on a year-over-year basis. On average, sell-side analysts anticipate that QXO, Inc. will post -0.13 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on QXO. Citigroup cut their price objective on QXO from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Oppenheimer increased their target price on shares of QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Wall Street Zen cut shares of QXO from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Benchmark reissued a “buy” rating on shares of QXO in a research note on Friday, February 20th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.43.

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.