QXO (NYSE:QXO) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of QXO (NYSE:QXO) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.

Other equities research analysts have also issued reports about the stock. Stephens lowered their price target 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. Citigroup reduced their price objective on shares of QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Zacks Research cut QXO from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a research report on Friday, May 29th. Finally, KeyCorp dropped their target price on QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.57.

QXO Trading Down 0.9%

NYSE QXO opened at $13.71 on Friday. QXO has a 52 week low of $13.32 and a 52 week 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 stock’s 50 day moving average price is $16.09 and its two-hundred day moving average price is $20.01. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of -15.06, a PEG ratio of 3.51 and a beta of 2.23.

QXO (NYSE:QXO) last issued 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 for the quarter, compared to the consensus estimate of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The firm’s quarterly revenue was up 12716.3% on a year-over-year basis. As a group, analysts anticipate that QXO will post 0.2 earnings per share for the current fiscal year.

Institutional Trading of QXO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arax Advisory Partners bought a new position in shares of QXO in the 4th quarter valued at about $25,000. LRI Investments LLC raised its holdings in shares of QXO by 129.1% in the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after purchasing an additional 835 shares during the period. Root Financial Partners LLC raised its holdings in shares of QXO by 73,350.0% in the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock valued at $29,000 after purchasing an additional 1,467 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of QXO by 57.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after purchasing an additional 575 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in shares of QXO in the second quarter valued at approximately $30,000. 58.68% of the stock is 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.