51,413 Shares in QXO, Inc. $QXO Acquired by JNBA Financial Advisors

JNBA Financial Advisors purchased a new position in shares of QXO, Inc. (NYSE:QXO) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 51,413 shares of the company’s stock, valued at approximately $992,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cherry Creek Investment Advisors Inc. grew its position in QXO by 0.6% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company’s stock worth $1,633,000 after acquiring an additional 474 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in QXO by 57.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after acquiring an additional 575 shares during the last quarter. Quest Investment Management LLC grew its position in QXO by 2.0% during the 3rd quarter. Quest Investment Management LLC now owns 34,959 shares of the company’s stock worth $666,000 after acquiring an additional 695 shares during the last quarter. First Bank & Trust grew its position in QXO by 4.9% during the 4th quarter. First Bank & Trust now owns 14,963 shares of the company’s stock worth $289,000 after acquiring an additional 701 shares during the last quarter. Finally, Allworth Financial LP grew its position in QXO by 66.9% during the 3rd quarter. Allworth Financial LP now owns 2,028 shares of the company’s stock worth $39,000 after acquiring an additional 813 shares during the last quarter. 58.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Truist Financial dropped their price objective on QXO from $28.00 to $26.00 and set a “buy” rating for the company in a report on Friday, December 19th. Citigroup dropped their price objective on QXO from $33.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Benchmark reiterated a “buy” rating on shares of QXO in a report on Friday, February 20th. Wall Street Zen cut QXO from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.13.

QXO Price Performance

QXO opened at $24.30 on Friday. The company has a current ratio of 3.58, a quick ratio of 2.61 and a debt-to-equity ratio of 0.37. The company has a market cap of $17.25 billion, a price-to-earnings ratio of -41.19, a price-to-earnings-growth ratio of 3.60 and a beta of 2.50. The stock has a fifty day simple moving average of $22.21 and a two-hundred day simple moving average of $20.99. QXO, Inc. has a 12-month low of $11.97 and a 12-month high of $27.61.

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). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. The company’s revenue was up 14725.0% on a year-over-year basis. Research analysts predict that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

QXO 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.