Baader Bank Aktiengesellschaft Takes Position in QXO, Inc. $QXO

Baader Bank Aktiengesellschaft purchased a new position in shares of QXO, Inc. (NYSE:QXO) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 230,000 shares of the company’s stock, valued at approximately $4,384,000.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on QXO shares. Citigroup reduced their price target on QXO from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Royal Bank Of Canada set a $30.00 price objective on shares of QXO in a report on Friday, January 9th. William Blair reiterated an “outperform” rating on shares of QXO in a research report on Wednesday, December 31st. Weiss Ratings restated a “sell (d+)” rating on shares of QXO in a research report on Monday, December 29th. Finally, Truist Financial reduced their price target on shares of QXO from $28.00 to $26.00 and set a “buy” rating for the company in a research note 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 given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, QXO presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.43.

QXO Price Performance

NYSE:QXO opened at $23.20 on Wednesday. The company has a quick ratio of 2.24, a current ratio of 3.06 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $22.45 and its 200 day moving average price is $20.42. QXO, Inc. has a 52-week low of $11.85 and a 52-week high of $26.24. The firm has a market cap of $15.65 billion, a P/E ratio of -52.73, a PEG ratio of 2.87 and a beta of 2.55.

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.