138,370 Shares in QXO, Inc. $QXO Acquired by TTRF Capital Ltd

TTRF Capital Ltd bought a new position in shares of QXO, Inc. (NYSE:QXO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 138,370 shares of the company’s stock, valued at approximately $2,391,000. QXO accounts for 1.6% of TTRF Capital Ltd’s holdings, making the stock its 9th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arax Advisory Partners bought a new position in shares of QXO in the 4th quarter worth $25,000. LRI Investments LLC boosted its position in QXO by 129.1% during the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after purchasing an additional 835 shares in 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 valued at $29,000 after purchasing an additional 1,467 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in QXO by 57.5% in the fourth 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 last quarter. Finally, Russell Investments Group Ltd. purchased a new position in QXO in the second quarter valued at about $30,000. Institutional investors own 58.68% of the company’s stock.

Wall Street Analyst Weigh In

QXO has been the subject of a number of recent research reports. Stephens reduced their target price on shares of QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Citigroup lowered their price target on shares of QXO from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Morgan Stanley started coverage on shares of QXO in a research report on Tuesday. They issued an “overweight” rating and a $35.00 price objective on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. Finally, Robert W. Baird decreased their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.71.

QXO Trading Up 9.0%

Shares of NYSE:QXO opened at $15.37 on Wednesday. The business’s 50-day moving average is $15.70 and its 200 day moving average is $19.46. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. QXO, Inc. has a 1 year low of $13.18 and a 1 year high of $27.61. The firm has a market capitalization of $15.94 billion, a P/E ratio of -16.88, a P/E/G ratio of 2.52 and a beta of 2.28.

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 analysts’ consensus estimates of ($0.09) by ($0.03). The business had revenue of $1.73 billion for 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 revenue for the quarter was up 12716.3% compared to the same quarter last year. On average, research analysts predict that QXO, Inc. will post 0.28 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.