QXO, Inc. (NYSE:QXO) Receives $31.14 Average PT from Analysts

Shares of QXO, Inc. (NYSE:QXO) have received a consensus rating of “Moderate Buy” from the seventeen analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $31.1429.

A number of brokerages have recently issued reports on QXO. Wall Street Zen upgraded shares of QXO from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Stephens cut their price target on shares of QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Oppenheimer lifted their target price on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Royal Bank Of Canada dropped their target price on shares of QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Finally, Robert W. Baird dropped their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th.

Institutional Trading of QXO

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in QXO by 17.2% in the 3rd quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock valued at $1,054,471,000 after purchasing an additional 8,131,331 shares during the last quarter. Finepoint Capital LP increased its holdings 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 during the last quarter. Fred Alger Management LLC increased its holdings in QXO by 75.4% in the 4th quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock valued at $307,173,000 after purchasing an additional 6,844,574 shares during the last quarter. Baillie Gifford & Co. boosted its position in QXO by 16,117.6% in the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after buying an additional 14,644,305 shares during the period. Finally, Schf GPE LLC boosted its position in QXO by 204.3% in the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after buying an additional 8,943,089 shares during the period. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Up 0.0%

Shares of NYSE QXO opened at $17.77 on Tuesday. The company has a 50 day simple moving average of $18.64 and a 200-day simple moving average of $20.96. The company has a market capitalization of $12.89 billion, a P/E ratio of -19.53, a P/E/G ratio of 4.55 and a beta of 2.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. QXO has a 1 year low of $14.75 and a 1 year high of $27.61.

QXO (NYSE:QXO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The business’s quarterly revenue was up 12716.3% on a year-over-year basis. On average, equities research analysts predict that QXO will post 0.2 earnings per share for the current year.

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.