Investment House LLC Has $15.43 Million Holdings in QXO, Inc. $QXO

Investment House LLC boosted its holdings in shares of QXO, Inc. (NYSE:QXO) by 16.4% in the fourth quarter, HoldingsChannel reports. The fund owned 799,935 shares of the company’s stock after buying an additional 112,556 shares during the quarter. Investment House LLC’s holdings in QXO were worth $15,431,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC boosted its position in QXO by 129.1% during the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after acquiring an additional 835 shares during the period. Newbridge Financial Services Group Inc. boosted its position in QXO by 57.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after acquiring an additional 575 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of QXO during the 2nd quarter valued at about $30,000. WPG Advisers LLC acquired a new stake in shares of QXO during the 3rd quarter valued at about $35,000. Finally, Allworth Financial LP lifted its holdings in shares of QXO by 66.9% during the 3rd quarter. Allworth Financial LP now owns 2,028 shares of the company’s stock valued at $39,000 after buying an additional 813 shares during the last quarter. 58.68% of the stock is currently owned by institutional investors and hedge funds.

QXO Stock Down 4.7%

QXO opened at $15.91 on Wednesday. The business has a 50 day moving average price of $20.10 and a 200 day moving average price of $21.10. QXO, Inc. has a twelve month low of $15.50 and a twelve month high of $27.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. The firm has a market cap of $11.54 billion, a P/E ratio of -17.48, a price-to-earnings-growth ratio of 4.28 and a beta of 2.40.

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

Wall Street Analyst Weigh In

QXO has been the subject of several research reports. Benchmark reiterated a “buy” rating on shares of QXO in a report on Friday, February 20th. Royal Bank Of Canada reduced their price target on QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Oppenheimer lifted their price target on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Robert W. Baird reduced their price target on QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, Stephens reduced their price target on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Sixteen analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, QXO presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

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.