QXO (NYSE:QXO) Given New $19.00 Price Target at KeyCorp

QXO (NYSE:QXO) had its price target reduced by KeyCorp from $28.00 to $19.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

QXO has been the subject of a number of other reports. Royal Bank Of Canada lowered their price objective on QXO from $27.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. Wells Fargo & Company cut their target price on QXO from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, October 16th. Benchmark reissued a “buy” rating on shares of QXO in a report on Friday, August 14th. Morgan Stanley assumed coverage on shares of QXO in a report on Tuesday, August 4th. They set an “overweight” rating and a $35.00 price target for the company. Finally, Wall Street Zen upgraded shares of QXO from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Fifteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, QXO currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

QXO Stock Performance

Shares of NYSE:QXO traded down $0.24 during trading on Friday, hitting $12.57. 11,933,010 shares of the company traded hands, compared to its average volume of 19,371,416. The stock has a market capitalization of $13.04 billion, a price-to-earnings ratio of -13.97, a PEG ratio of 2.86 and a beta of 2.42. The business’s fifty day moving average is $11.75 and its 200-day moving average is $16.76. QXO has a one year low of $10.03 and a one year high of $27.61. The company has a quick ratio of 3.29, a current ratio of 4.11 and a debt-to-equity ratio of 0.66.

QXO (NYSE:QXO) last announced its quarterly earnings results on Thursday, November 12th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.86 billion. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. During the same period in the prior year, the firm earned $0.14 EPS. As a group, equities analysts predict that QXO will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QXO

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Finepoint Capital LP increased its stake in QXO by 30.7% during the 2nd quarter. Finepoint Capital LP now owns 18,113,850 shares of the company’s stock valued at $313,007,000 after buying an additional 4,255,435 shares during the period. Spyglass Capital Management LLC bought a new stake in shares of QXO during the 2nd quarter worth about $62,961,000. Bank of New York Mellon Corp acquired a new stake in shares of QXO in the 2nd quarter worth approximately $44,919,000. Vontobel Holding Ltd. acquired a new stake in shares of QXO in the 3rd quarter worth approximately $25,720,000. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of QXO by 76,215.6% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,346,208 shares of the company’s stock worth $15,737,000 after acquiring an additional 1,344,444 shares during the period. 58.68% of the stock is owned by institutional investors.

More QXO News

Here’s some of the latest news about QXO:

• Positive Sentiment: QXO announced a $500 million share buyback, which could support demand for its shares. QXO announces a share buyback
• Negative Sentiment: Despite revenue growth, a separate financial breakdown showed a $123 million net loss and just $1 million in operating cash flow, highlighting that growth has yet to translate into strong profitability or cash generation. QXO third-quarter financial breakdown
• Negative Sentiment: DA Davidson cut its price target from $20 to $19, while KeyCorp lowered its target from $28 to $19. Both retained bullish ratings, but the reductions temper the optimism. DA Davidson analyst rating KeyCorp analyst rating

QXO Company Profile

QXO, Inc. is a distributor of building products serving contractors and other customers in the construction industry. Its offerings include roofing materials, waterproofing products and complementary building supplies for residential and commercial projects. QXO expanded its business through its acquisition of Beacon Roofing Supply in 2025, bringing Beacon’s distribution network and product expertise into the company. Beacon serves customers across the United States and Canada. QXO is led by Chairman and Chief Executive Officer Brad Jacobs, an entrepreneur whose previous leadership roles include executive positions at XPO and United Rentals.