QXO (NYSE:QXO) Hits New 12-Month Low – Should You Sell?

QXO, Inc. (NYSE:QXO) hit a new 52-week low on Wednesday . The stock traded as low as $14.60 and last traded at $14.5820, with a volume of 2764719 shares. The stock had previously closed at $15.25.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Citigroup cut their price objective on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Stephens reduced their price target on shares of QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Royal Bank Of Canada dropped their target price on shares of 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 shares of QXO from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, Robert W. Baird lowered their price target on QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Fifteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, QXO has an average rating of “Moderate Buy” and an average price target of $30.86.

QXO Trading Down 7.5%

The company has a market capitalization of $10.23 billion, a PE ratio of -15.56, a price-to-earnings-growth ratio of 4.05 and a beta of 2.23. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. The company’s fifty day moving average is $17.21 and its 200-day moving average is $20.62.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Arax Advisory Partners purchased a new position in QXO in the fourth quarter worth $25,000. LRI Investments LLC grew its stake in QXO by 129.1% during the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after buying an additional 835 shares during the last quarter. Root Financial Partners LLC increased its position in QXO by 73,350.0% during the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock valued at $29,000 after buying an additional 1,467 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in QXO by 57.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after buying an additional 575 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in QXO in the second quarter worth about $30,000. Institutional investors own 58.68% of the company’s stock.

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.