QXO, Inc. (NYSE:QXO) Receives $32.43 Consensus PT from Analysts

QXO, Inc. (NYSE:QXO) has earned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $32.4286.

Several equities analysts recently issued reports on QXO shares. Truist Financial dropped their price target on QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. Weiss Ratings reiterated a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. Oppenheimer upped their price target on QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Royal Bank Of Canada set a $30.00 price target on QXO in a report on Friday, January 9th. Finally, William Blair reissued an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st.

QXO Trading Up 4.5%

NYSE QXO opened at $27.07 on Wednesday. The firm’s fifty day moving average is $22.82 and its two-hundred day moving average is $20.54. QXO has a one year low of $11.85 and a one year high of $27.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06. The firm has a market cap of $18.26 billion, a PE ratio of -61.53, a P/E/G ratio of 3.24 and a beta of 2.55.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in QXO. Royal Bank of Canada lifted its position in QXO by 67.5% in the first quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock valued at $1,620,000 after purchasing an additional 48,248 shares during the period. AQR Capital Management LLC purchased a new position in shares of QXO during the 1st quarter worth approximately $615,000. Millennium Management LLC lifted its holdings in shares of QXO by 6.6% in the 1st quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock valued at $4,361,000 after buying an additional 20,067 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of QXO by 13.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock valued at $9,449,000 after buying an additional 81,758 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in shares of QXO by 92.7% in the second quarter. Janney Montgomery Scott LLC now owns 28,481 shares of the company’s stock valued at $613,000 after buying an additional 13,700 shares in the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.

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.