QXO, Inc. (NYSE:QXO) Receives $31.14 Consensus PT from Brokerages

QXO, Inc. (NYSE:QXO) has earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $31.1429.

A number of analysts recently commented on QXO shares. Stephens reduced their price objective on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Citigroup reduced their price objective on QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Royal Bank Of Canada reduced their price objective on QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Finally, Oppenheimer boosted 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.

Institutional Trading of QXO

Several hedge funds have recently bought and sold shares of QXO. Royal Bank of Canada grew its holdings in 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 period. AQR Capital Management LLC bought a new stake in QXO during the first quarter valued at about $615,000. Millennium Management LLC grew its holdings in 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 period. Finally, American Century Companies Inc. bought a new stake in QXO during the second quarter valued at about $837,000. Institutional investors own 58.68% of the company’s stock.

QXO Stock Down 5.6%

QXO stock opened at $16.76 on Tuesday. QXO has a 1-year low of $14.75 and a 1-year high of $27.61. The business has a fifty day moving average price of $18.55 and a 200-day moving average price of $20.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. The stock has a market capitalization of $12.16 billion, a P/E ratio of -18.42, a P/E/G ratio of 4.55 and a beta of 2.30.

QXO (NYSE:QXO) last posted its quarterly 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). The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The business’s quarterly revenue was up 12716.3% compared to the same quarter last year. Equities analysts forecast that QXO will post 0.2 earnings per share for the current fiscal year.

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.