40,260 Shares in QXO, Inc. $QXO Acquired by IPG Investment Advisors LLC

IPG Investment Advisors LLC purchased a new position in shares of QXO, Inc. (NYSE:QXO) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 40,260 shares of the company’s stock, valued at approximately $471,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of QXO. Center for Financial Planning Inc. acquired a new position in QXO in the third quarter worth $26,000. Root Financial Partners LLC grew its holdings 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 last quarter. Signaturefd LLC increased its stake in shares of QXO by 166.6% in the third quarter. Signaturefd LLC now owns 2,973 shares of the company’s stock valued at $35,000 after buying an additional 1,858 shares in the last quarter. MADDEN SECURITIES Corp acquired a new stake in shares of QXO in the third quarter valued at $36,000. Finally, CoreCap Advisors LLC acquired a new stake in shares of QXO in the third quarter valued at $41,000. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Stock Up 8.4%

NYSE QXO opened at $12.70 on Thursday. The stock has a fifty day moving average of $11.84 and a 200-day moving average of $17.15. The stock has a market capitalization of $13.17 billion, a P/E ratio of -14.11, a price-to-earnings-growth ratio of 2.61 and a beta of 2.42. QXO, Inc. has a 52 week low of $10.03 and a 52 week high of $27.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.29 and a current ratio of 4.11.

QXO (NYSE:QXO) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. On average, equities research analysts forecast that QXO, Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

QXO has been the subject of a number of research analyst reports. DA Davidson set a $20.00 price target on QXO in a report on Friday, October 9th. Truist Financial decreased their price objective on shares of QXO from $26.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Royal Bank Of Canada dropped their target price on shares of QXO from $27.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. Finally, Morgan Stanley started coverage on shares of QXO in a research note on Tuesday, August 4th. They issued an “overweight” rating and a $35.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, QXO presently has an average rating of “Moderate Buy” and an average target price of $24.77.

About QXO

QXO, Inc is a building products distribution company serving professional contractors and other customers in the construction industry. Its product offerings include roofing materials, siding, windows, doors, insulation and related exterior building products.

The company operates through a network of distribution locations in the United States and Canada, providing materials, delivery services and product support to contractors and other building-industry customers. QXO’s strategy is focused on expanding its presence in the building products distribution market through organic growth and acquisitions.

QXO was formerly known as SilverSun Technologies, Inc and adopted the QXO name as part of a strategic transformation led by investor Brad Jacobs.