Moors & Cabot Inc. Takes Position in QXO, Inc. $QXO

Moors & Cabot Inc. acquired a new position in shares of QXO, Inc. (NYSE:QXO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 29,950 shares of the company’s stock, valued at approximately $645,000.

Other large investors have also bought and sold shares of the company. Teacher Retirement System of Texas acquired a new position in QXO during the first quarter worth about $689,000. Bank of New York Mellon Corp boosted its stake in shares of QXO by 1.4% in the 1st quarter. Bank of New York Mellon Corp now owns 456,734 shares of the company’s stock valued at $6,184,000 after purchasing an additional 6,267 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of QXO by 38.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 192,660 shares of the company’s stock valued at $2,609,000 after purchasing an additional 53,904 shares during the last quarter. Diversify Wealth Management LLC grew its holdings in shares of QXO by 66.4% during the 1st quarter. Diversify Wealth Management LLC now owns 16,653 shares of the company’s stock valued at $220,000 after purchasing an additional 6,644 shares during the last quarter. Finally, Horizon Advisory Services Inc. acquired a new position in QXO during the 1st quarter worth approximately $160,000. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Price Performance

Shares of NYSE:QXO opened at $17.15 on Friday. The firm has a market cap of $11.55 billion, a PE ratio of -81.64, a price-to-earnings-growth ratio of 2.58 and a beta of 2.26. The firm’s fifty day moving average is $19.41 and its 200-day moving average is $19.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.15 and a current ratio of 3.00. QXO, Inc. has a 52 week low of $11.85 and a 52 week high of $24.69.

QXO (NYSE:QXO) last announced its earnings results on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.78 billion. QXO had a positive return on equity of 2.15% and a negative net margin of 1.09%.QXO’s quarterly revenue was up 20726.7% on a year-over-year basis. Sell-side analysts predict that QXO, Inc. will post -0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on QXO shares. KeyCorp set a $28.00 target price on shares of QXO in a research report on Wednesday, October 1st. Vertical Research began coverage on shares of QXO in a report on Tuesday, October 21st. They set a “buy” rating and a $30.00 price target for the company. Benchmark raised QXO to a “strong-buy” rating in a report on Monday, August 25th. Royal Bank Of Canada began coverage on QXO in a research report on Monday, July 21st. They set an “outperform” rating and a $33.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.85.

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.