QXO (NYSE:QXO) Reaches New 1-Year Low – Here’s Why

QXO, Inc. (NYSE:QXO)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $13.22 and last traded at $13.3520, with a volume of 7679635 shares changing hands. The stock had previously closed at $14.25.

Analysts Set New Price Targets

Several research firms have recently issued reports on QXO. Royal Bank Of Canada reiterated an “outperform” rating and issued a $27.00 price objective on shares of QXO in a report on Friday, July 10th. Stephens cut 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. Zacks Research raised QXO from a “strong sell” rating to a “hold” rating in a research note on Monday. Oppenheimer lifted their price target on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Finally, KeyCorp dropped their price objective on QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Fifteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.71.

QXO Stock Down 6.5%

The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. The stock’s fifty day simple moving average is $16.01 and its two-hundred day simple moving average is $19.86. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of -14.63, a P/E/G ratio of 2.62 and a beta of 2.23.

QXO (NYSE:QXO) last announced its quarterly earnings data 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). QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. The firm’s quarterly revenue was up 12716.3% on a year-over-year basis. On average, sell-side analysts anticipate that QXO, Inc. will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

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

About QXO

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.