QXO, Inc. (NYSE:QXO) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of QXO, Inc. (NYSE:QXO) have been given an average recommendation of “Moderate Buy” by the eighteen ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $32.1333.

QXO has been the subject of several research analyst reports. Benchmark reissued a “buy” rating on shares of QXO in a report on Friday, February 20th. Oppenheimer boosted their price objective on QXO from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, January 16th. Truist Financial lowered their target price on QXO from $28.00 to $26.00 and set a “buy” rating for the company in a report on Friday, December 19th. Loop Capital started coverage on QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 target price for the company. Finally, Wall Street Zen lowered QXO from a “hold” rating to a “sell” rating in a report on Saturday, February 28th.

QXO Stock Down 0.1%

Shares of QXO stock opened at $19.01 on Thursday. The company has a quick ratio of 2.61, a current ratio of 3.58 and a debt-to-equity ratio of 0.37. The firm has a market cap of $13.50 billion, a P/E ratio of -32.23, a P/E/G ratio of 3.04 and a beta of 2.50. QXO has a fifty-two week low of $11.97 and a fifty-two week high of $27.61. The business has a 50-day moving average price of $22.32 and a 200 day moving average price of $20.88.

QXO (NYSE:QXO) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. QXO’s revenue was up 14725.0% compared to the same quarter last year. On average, sell-side analysts forecast that QXO will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QXO

Several institutional investors have recently made changes to their positions in QXO. Royal Bank of Canada grew its holdings in shares of QXO by 67.5% during the first quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock valued at $1,620,000 after purchasing an additional 48,248 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of QXO during the first quarter valued at approximately $615,000. Millennium Management LLC grew its holdings in shares of QXO by 6.6% during the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock valued at $4,361,000 after purchasing an additional 20,067 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of QXO by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock valued at $9,449,000 after purchasing an additional 81,758 shares during the last quarter. Finally, Creative Planning bought a new position in shares of QXO during the second quarter valued at approximately $609,000. 58.68% of the stock is owned by institutional investors.

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.