QXO, Inc. $QXO Holdings Lifted by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH boosted its position in QXO, Inc. (NYSE:QXO) by 25.9% in the third quarter, HoldingsChannel reports. The firm owned 5,703,964 shares of the company’s stock after buying an additional 1,173,274 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in QXO were worth $66,679,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QXO. Triangle Securities Wealth Management grew its holdings in shares of QXO by 6.4% in the third quarter. Triangle Securities Wealth Management now owns 38,015 shares of the company’s stock valued at $444,000 after acquiring an additional 2,275 shares in the last quarter. Hudock Inc. bought a new stake in QXO during the third quarter worth $127,000. Salem Investment Counselors Inc. lifted its holdings in QXO by 177.9% during the third quarter. Salem Investment Counselors Inc. now owns 332,955 shares of the company’s stock worth $3,892,000 after acquiring an additional 213,150 shares during the period. Lincoln Capital Corp bought a new stake in QXO during the third quarter worth $174,000. Finally, Sax Wealth Advisors LLC purchased a new position in QXO in the third quarter worth $1,102,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Price Performance

QXO stock opened at $10.32 on Thursday. QXO, Inc. has a 12 month low of $10.17 and a 12 month high of $27.61. The company has a current ratio of 4.11, a quick ratio of 3.29 and a debt-to-equity ratio of 0.66. The business’s 50 day simple moving average is $12.86 and its 200 day simple moving average is $15.84. The company has a market cap of $10.71 billion, a price-to-earnings ratio of -11.47, a PEG ratio of 2.24 and a beta of 2.30.

QXO (NYSE:QXO) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. Sell-side analysts forecast that QXO, Inc. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley initiated coverage on QXO in a research note on Tuesday, August 4th. They issued an “overweight” rating and a $35.00 price objective for the company. KeyCorp cut their price target on shares of QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Wall Street Zen upgraded shares of QXO from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th. Melius Research assumed coverage on shares of QXO in a report on Tuesday, October 6th. They set a “buy” rating and a $17.00 price objective for the company. Finally, DA Davidson set a $20.00 price objective on shares of QXO in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, QXO presently has a consensus rating of “Moderate Buy” and an average target price of $25.21.

About QXO

QXO, Inc is a building products distribution company focused on supplying contractors and other construction professionals. Its product portfolio includes roofing materials, siding, windows, waterproofing products and related exterior building supplies. The company serves residential and commercial construction and repair markets through branch locations, distribution centers and digital ordering channels.

QXO operates through Beacon, a major distributor of roofing and complementary building products in the United States and Canada.