World Investment Advisors Invests $631,000 in QXO, Inc. $QXO

World Investment Advisors purchased a new position in QXO, Inc. (NYSE:QXO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 32,693 shares of the company’s stock, valued at approximately $631,000.

Several other institutional investors have also recently added to or reduced their stakes in QXO. Arax Advisory Partners acquired a new position in QXO during the 4th quarter worth $25,000. LRI Investments LLC raised its stake in shares of 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 purchasing an additional 835 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of QXO by 57.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after purchasing an additional 575 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of QXO in the 2nd quarter valued at about $30,000. Finally, NewEdge Advisors LLC lifted its position in shares of QXO by 42.4% during the fourth quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. 58.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on QXO shares. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Royal Bank Of Canada cut their price objective on QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Zacks Research raised QXO from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. KeyCorp increased their target price on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Finally, Stephens decreased their target price on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Fifteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, QXO presently has a consensus rating of “Moderate Buy” and an average target price of $31.14.

QXO Price Performance

Shares of QXO opened at $16.24 on Wednesday. The company has a market cap of $11.78 billion, a P/E ratio of -17.85, a PEG ratio of 4.29 and a beta of 2.30. The stock has a fifty day moving average price of $18.43 and a 200 day moving average price of $20.93. 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, Inc. has a 12 month low of $14.75 and a 12 month high of $27.61.

QXO (NYSE:QXO) last posted its 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). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. The company’s revenue for the quarter was up 12716.3% compared to the same quarter last year. On average, research analysts forecast that QXO, Inc. 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.