QXO (NYSE:QXO) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of QXO (NYSE:QXO) from a hold rating to a strong sell rating in a research report report published on Thursday,Zacks.com reports.

A number of other research firms also recently commented on QXO. Oppenheimer boosted their target price on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Royal Bank Of Canada restated an “outperform” rating and set a $27.00 price target on shares of QXO in a report on Friday. Citigroup reduced their price objective on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Robert W. Baird decreased their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.79.

QXO Price Performance

NYSE QXO traded up $0.43 on Thursday, reaching $15.02. The company had a trading volume of 37,792,134 shares, compared to its average volume of 26,290,496. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $10.89 billion, a PE ratio of -16.50, a price-to-earnings-growth ratio of 3.74 and a beta of 2.23. The firm’s 50 day moving average price is $16.91 and its 200 day moving average price is $20.47. QXO has a 12 month low of $13.82 and a 12 month high of $27.61.

QXO (NYSE:QXO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) 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 company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. The company’s quarterly revenue was up 12716.3% on a year-over-year basis. As a group, equities analysts predict that QXO will post 0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QXO. Arax Advisory Partners bought a new stake in QXO during the fourth quarter worth approximately $25,000. Russell Investments Group Ltd. bought a new stake in shares of QXO in the 2nd quarter valued at approximately $30,000. Root Financial Partners LLC lifted its stake in shares of QXO by 73,350.0% in the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock valued at $29,000 after purchasing an additional 1,467 shares during the last quarter. LRI Investments LLC boosted its holdings in shares of QXO by 129.1% in the 4th 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. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of QXO by 57.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after purchasing an additional 575 shares during the period. Hedge funds and other 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.