QXO, Inc. $QXO Shares Newly Purchased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC acquired a new position in shares of QXO, Inc. (NYSE:QXO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 52,770 shares of the company’s stock, valued at approximately $617,000.

Other hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. grew its holdings in QXO by 45.0% in the third quarter. D.A. Davidson & CO. now owns 15,805 shares of the company’s stock worth $185,000 after purchasing an additional 4,905 shares during the period. BOKF NA lifted its holdings in shares of QXO by 1,164.0% during the third quarter. BOKF NA now owns 8,001 shares of the company’s stock valued at $94,000 after purchasing an additional 7,368 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of QXO by 4,949.5% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 5,504 shares of the company’s stock valued at $64,000 after purchasing an additional 5,395 shares during the last quarter. North Dakota State Investment Board lifted its holdings in shares of QXO by 53.6% during the third quarter. North Dakota State Investment Board now owns 29,405 shares of the company’s stock valued at $344,000 after purchasing an additional 10,265 shares during the last quarter. Finally, VestGen Advisors LLC boosted its position in shares of QXO by 10.9% in the 3rd quarter. VestGen Advisors LLC now owns 23,034 shares of the company’s stock worth $269,000 after purchasing an additional 2,260 shares in the last quarter. Institutional investors own 58.68% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on QXO shares. Benchmark restated a “buy” rating on shares of QXO in a research note on Friday, August 14th. Morgan Stanley initiated coverage on QXO in a research note on Tuesday, August 4th. They set an “overweight” rating and a $35.00 price objective for the company. Wells Fargo & Company lowered their price objective on QXO from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. Zacks Research raised QXO from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Finally, Melius Research started coverage on QXO in a research note on Tuesday, October 6th. They issued a “buy” rating and a $17.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, QXO currently has an average rating of “Moderate Buy” and a consensus price target of $24.77.

QXO Stock Down 3.1%

NYSE:QXO opened at $11.03 on Friday. The firm has a market cap of $11.44 billion, a P/E ratio of -12.26, a P/E/G ratio of 2.46 and a beta of 2.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.29 and a current ratio of 4.11. QXO, Inc. has a fifty-two week low of $10.03 and a fifty-two week high of $27.61. The firm has a 50-day simple moving average of $11.94 and a two-hundred day simple moving average of $17.34.

QXO (NYSE:QXO) last issued its earnings results on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Analysts predict that QXO, Inc. will post 0.22 earnings per share for the current fiscal year.

QXO Company Profile

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.