QXO (NASDAQ:QXO) Raised to “Strong-Buy” at Baird R W

QXO (NASDAQ:QXO) was upgraded by research analysts at Baird R W to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

QXO has been the subject of a number of other research reports. Oppenheimer started coverage on QXO in a research note on Wednesday. They issued an “outperform” rating and a $27.00 price objective for the company. Wolfe Research assumed coverage on shares of QXO in a research report on Friday, June 6th. They set an “outperform” rating and a $44.00 price objective on the stock. Finally, Robert W. Baird began coverage on shares of QXO in a research note on Thursday. They issued an “outperform” rating and a $32.00 price objective on the stock.

QXO Stock Performance

QXO opened at $20.11 on Thursday. QXO has a one year low of $10.61 and a one year high of $205.96. The stock has a market capitalization of $11.63 billion, a P/E ratio of -2.21, a price-to-earnings-growth ratio of 4.09 and a beta of 2.38. The business’s 50-day simple moving average is $15.29 and its 200-day simple moving average is $14.72.

Hedge Funds Weigh In On QXO

Institutional investors have recently made changes to their positions in the stock. Advisors Capital Management LLC boosted its holdings in shares of QXO by 18.9% during the first quarter. Advisors Capital Management LLC now owns 646,595 shares of the company’s stock worth $8,755,000 after purchasing an additional 102,862 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 worth $9,449,000 after buying an additional 81,758 shares during the period. Blue Investment Opportunities LLC Project Breeze Series 1 acquired a new stake in QXO in the 1st quarter worth about $118,142,000. Millennium Management LLC boosted its stake in QXO by 6.6% in the 1st quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock worth $4,361,000 after buying an additional 20,067 shares during the last quarter. Finally, Eschler Asset Management LLP purchased a new stake in QXO in the 1st quarter valued at about $812,000. 58.68% of the stock is owned by institutional investors and hedge funds.

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.