QXO (NYSE:QXO) Given New $28.00 Price Target at KeyCorp

QXO (NYSE:QXO) had its price objective reduced by equities research analysts at KeyCorp from $32.00 to $28.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 60.73% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Oppenheimer increased their price objective on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research report on Friday, May 29th. Citigroup dropped their target price on shares of QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Stephens cut their target price on shares of QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Finally, Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Fifteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, QXO has an average rating of “Moderate Buy” and a consensus target price of $30.86.

QXO Price Performance

QXO stock opened at $17.42 on Wednesday. The stock’s 50 day moving average is $17.83 and its two-hundred day moving average is $20.80. QXO has a 52-week low of $14.75 and a 52-week high of $27.61. The company has a market capitalization of $12.64 billion, a PE ratio of -19.14, a P/E/G ratio of 4.57 and a beta of 2.30. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35.

QXO (NYSE:QXO) last released its earnings results on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. The company’s quarterly revenue was up 12716.3% on a year-over-year basis. Analysts predict that QXO will post 0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its position in QXO by 3.8% in the first quarter. Janus Henderson Group PLC now owns 269,200 shares of the company’s stock worth $5,224,000 after buying an additional 9,787 shares during the period. Arkadios Wealth Advisors boosted its holdings in shares of QXO by 17.2% during the first quarter. Arkadios Wealth Advisors now owns 59,040 shares of the company’s stock valued at $1,147,000 after acquiring an additional 8,644 shares during the period. Opal Capital LLC boosted its holdings in shares of QXO by 2,185.2% during the first quarter. Opal Capital LLC now owns 255,846 shares of the company’s stock valued at $4,969,000 after acquiring an additional 244,650 shares during the period. Amundi grew its position in shares of QXO by 11.3% during the first quarter. Amundi now owns 1,264,434 shares of the company’s stock worth $24,555,000 after acquiring an additional 127,933 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in shares of QXO by 22.4% during the first quarter. California State Teachers Retirement System now owns 704,530 shares of the company’s stock worth $13,682,000 after acquiring an additional 129,164 shares during the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

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.