Hohimer Wealth Management LLC Makes New Investment in QXO, Inc. $QXO

Hohimer Wealth Management LLC purchased a new stake in shares of QXO, Inc. (NYSE:QXO) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 138,815 shares of the company’s stock, valued at approximately $2,646,000.

A number of other hedge funds and other institutional investors have also modified their holdings of QXO. American Capital Advisory LLC lifted its holdings in QXO by 258.0% in the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after purchasing an additional 841 shares during the period. Bogart Wealth LLC bought a new stake in shares of QXO during the 3rd quarter worth about $25,000. Allworth Financial LP raised its position in shares of QXO by 1,740.9% during the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock worth $26,000 after buying an additional 1,149 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of QXO in the 2nd quarter worth approximately $28,000. Finally, Russell Investments Group Ltd. bought a new position in shares of QXO in the second quarter valued at approximately $30,000. 58.68% of the stock is currently owned by institutional investors.

QXO Price Performance

Shares of NYSE:QXO opened at $23.91 on Friday. QXO, Inc. has a one year low of $11.97 and a one year high of $27.61. The stock has a fifty day moving average of $23.57 and a 200-day moving average of $20.90. The company has a market capitalization of $16.13 billion, a PE ratio of -40.53, a price-to-earnings-growth ratio of 3.27 and a beta of 2.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06.

QXO (NYSE:QXO) last issued its earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.19 billion. QXO had a positive return on equity of 3.59% and a negative net margin of 4.08%.The business’s revenue for the quarter was up 14725.0% on a year-over-year basis. As a group, equities analysts anticipate that QXO, Inc. will post -0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

QXO has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Benchmark reiterated a “buy” rating on shares of QXO in a research report on Friday, February 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. Loop Capital started coverage on QXO in a report on Thursday, December 11th. They issued a “buy” rating and a $31.00 price objective for the company. Finally, Truist Financial lowered their target price on QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, QXO presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.43.

QXO 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.