QXO (NYSE:QXO) Sets New 52-Week Low – Here’s What Happened

Shares of QXO, Inc. (NYSE:QXO) reached a new 52-week low during trading on Tuesday . The stock traded as low as $15.50 and last traded at $15.6760, with a volume of 2573922 shares trading hands. The stock had previously closed at $16.70.

Analyst Ratings Changes

A number of research firms recently issued reports on QXO. Stephens decreased their target price on shares of QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. KeyCorp increased their price target on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Benchmark reissued a “buy” rating on shares of QXO in a report on Friday, February 20th. Citigroup lowered their target price on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Oppenheimer raised their target price on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Sixteen equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

QXO Stock Down 1.2%

The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. The business has a 50-day simple moving average of $20.22 and a 200-day simple moving average of $21.11. The company has a market cap of $11.96 billion, a PE ratio of -18.09, a P/E/G ratio of 4.19 and a beta of 2.40.

QXO (NYSE:QXO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. The business’s revenue was up 12716.3% compared to the same quarter last year. Equities research analysts anticipate that QXO, Inc. will post 0.2 EPS for the current year.

Hedge Funds Weigh In On QXO

A number of large investors have recently added to or reduced their stakes in the stock. Arax Advisory Partners purchased a new stake in shares of QXO during the fourth quarter worth about $25,000. LRI Investments LLC lifted its stake in QXO by 129.1% in the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after buying an additional 835 shares in the last quarter. Root Financial Partners LLC boosted its holdings in QXO by 73,350.0% in the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after buying an additional 1,467 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake 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 buying an additional 575 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in QXO during the 2nd quarter worth approximately $30,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

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.