QXO’s (QXO) “Sell (D)” Rating Reaffirmed at Weiss Ratings

QXO (NYSE:QXO)‘s stock had its “sell (d)” rating reissued by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other equities research analysts have also issued reports about the company. Oppenheimer initiated coverage on QXO in a research note on Wednesday, June 11th. They issued an “outperform” rating and a $27.00 price objective on the stock. Stephens initiated coverage on QXO in a research note on Wednesday, August 13th. They issued an “overweight” rating and a $29.00 price objective on the stock. William Blair initiated coverage on QXO in a research note on Wednesday, June 18th. They issued an “outperform” rating on the stock. KeyCorp set a $28.00 price objective on QXO in a research note on Wednesday, October 1st. Finally, Citigroup began coverage on QXO in a research report on Wednesday, July 16th. They set a “buy” rating and a $33.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.25.

QXO Trading Up 1.9%

QXO stock opened at $19.88 on Wednesday. QXO has a 1-year low of $11.85 and a 1-year high of $24.69. The firm has a market cap of $13.39 billion, a P/E ratio of -94.66, a P/E/G ratio of 2.61 and a beta of 2.25. The business’s 50 day moving average is $20.21 and its 200-day moving average is $18.38. The company has a current ratio of 3.00, a quick ratio of 2.15 and a debt-to-equity ratio of 0.38.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Fiduciary Alliance LLC boosted its position in QXO by 155.5% in the 3rd quarter. Fiduciary Alliance LLC now owns 105,820 shares of the company’s stock valued at $2,017,000 after buying an additional 64,400 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in QXO in the 3rd quarter valued at $1,530,000. Sanders Morris Harris LLC bought a new position in QXO in the 3rd quarter valued at $314,000. Venture Visionary Partners LLC bought a new position in QXO in the 3rd quarter valued at $2,521,000. Finally, GAMMA Investing LLC bought a new position in QXO in the 3rd quarter valued at $31,000. 58.68% of the stock is currently owned by institutional investors.

QXO Company Profile

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.