QXO, Inc. (NYSE:QXO) Receives $32.43 Average Price Target from Brokerages

Shares of QXO, Inc. (NYSE:QXO) have been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $32.4286.

Several brokerages have issued reports on QXO. Wall Street Zen cut shares of QXO from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Loop Capital initiated coverage on shares of QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 price target on the stock. Citigroup reduced their price target on shares of QXO from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Royal Bank Of Canada set a $30.00 price objective on shares of QXO in a report on Friday, January 9th. Finally, Benchmark reiterated a “buy” rating on shares of QXO in a research note on Friday, February 20th.

QXO Trading Down 7.5%

NYSE QXO opened at $19.53 on Friday. QXO has a 12 month low of $11.97 and a 12 month high of $27.61. The company has a current ratio of 3.58, a quick ratio of 2.61 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average price is $23.77 and its 200-day moving average price is $21.04. The stock has a market cap of $13.84 billion, a P/E ratio of -33.10, a P/E/G ratio of 3.37 and a beta of 2.51.

QXO (NYSE:QXO) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.19 billion. QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The firm’s revenue was up 14725.0% on a year-over-year basis. As a group, equities analysts forecast that QXO will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On QXO

Several institutional investors have recently modified their holdings of QXO. Bogart Wealth LLC purchased a new position in QXO in the 3rd quarter worth about $25,000. Arax Advisory Partners purchased a new stake in shares of QXO during the 4th quarter valued at about $25,000. Allworth Financial LP grew its stake in shares of QXO by 1,740.9% in the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock worth $26,000 after acquiring an additional 1,149 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of QXO in the second quarter worth approximately $28,000. Finally, LRI Investments LLC raised its holdings in shares of QXO by 129.1% during the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after purchasing an additional 835 shares during the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.

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.