QXO (NYSE:QXO) Sets New 52-Week Low – Time to Sell?

QXO, Inc. (NYSE:QXO) reached a new 52-week low on Wednesday . The stock traded as low as $13.22 and last traded at $13.3520, with a volume of 7679635 shares. The stock had previously closed at $14.25.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company set a $18.00 target price on QXO in a report on Tuesday. Stephens dropped their price target on QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Oppenheimer increased their price objective on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $27.00 target price on shares of QXO in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, QXO currently has a consensus rating of “Moderate Buy” and an average target price of $29.71.

QXO Stock Performance

The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $9.79 billion, a PE ratio of -14.84, a PEG ratio of 2.39 and a beta of 2.23. The firm’s fifty day moving average price is $15.86 and its 200 day moving average price is $19.70.

QXO (NYSE:QXO) last issued its earnings results on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The business’s quarterly revenue was up 12716.3% compared to the same quarter last year. On average, research analysts anticipate that QXO, Inc. will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On QXO

Several institutional investors have recently bought and sold shares of QXO. Arax Advisory Partners bought a new position in shares of QXO in the 4th quarter valued at approximately $25,000. LRI Investments LLC lifted its holdings in QXO by 129.1% in the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after purchasing an additional 835 shares during the last quarter. Root Financial Partners LLC boosted its position in QXO by 73,350.0% during the first 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. Newbridge Financial Services Group Inc. boosted its position in QXO by 57.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after purchasing an additional 575 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in QXO during the second quarter worth approximately $30,000. 58.68% of the stock is currently 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.