QXO, Inc. $QXO Stake Raised by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its holdings in QXO, Inc. (NYSE:QXO) by 124.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,177,113 shares of the company’s stock after buying an additional 652,185 shares during the period. Oppenheimer & Co. Inc.’s holdings in QXO were worth $13,760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Center for Financial Planning Inc. purchased a new stake in shares of QXO in the third quarter valued at $26,000. Root Financial Partners LLC lifted its position 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 worth $29,000 after purchasing an additional 1,467 shares during the period. Signaturefd LLC boosted its position in QXO by 166.6% during the 3rd quarter. Signaturefd LLC now owns 2,973 shares of the company’s stock valued at $35,000 after acquiring an additional 1,858 shares in the last quarter. CoreCap Advisors LLC purchased a new position in QXO in the third quarter valued at about $41,000. Finally, Hartford Financial Management Inc. grew its position in shares of QXO by 59.1% in the 3rd quarter. Hartford Financial Management Inc. now owns 3,500 shares of the company’s stock worth $41,000 after buying an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a research note on Wednesday, August 26th. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th. Zacks Research upgraded QXO from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. DA Davidson set a $20.00 target price on QXO in a research report on Friday, October 9th. Finally, Wells Fargo & Company dropped their price target on shares of QXO from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.77.

QXO Stock Performance

Shares of QXO stock opened at $10.62 on Wednesday. QXO, Inc. has a one year low of $10.03 and a one year high of $27.61. The business’s 50 day moving average price is $12.09 and its 200 day moving average price is $17.55. The company has a market cap of $11.02 billion, a price-to-earnings ratio of -11.81 and a beta of 2.30.

QXO (NYSE:QXO) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. On average, analysts predict that QXO, Inc. will post 0.24 EPS for the current fiscal year.

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.