QXO, Inc. (NYSE:QXO) Receives $32.85 Average Price Target from Brokerages

Shares of QXO, Inc. (NYSE:QXO) have been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, thirteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $32.8462.

Several equities analysts recently issued reports on the stock. Wells Fargo & Company began coverage on shares of QXO in a research report on Tuesday, August 5th. They set an “overweight” rating and a $30.00 price target on the stock. Raymond James Financial started coverage on QXO in a research report on Friday, September 5th. They set an “outperform” rating and a $28.00 price objective on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research report on Wednesday, October 8th. Stephens started coverage on QXO in a research note on Wednesday, August 13th. They issued an “overweight” rating and a $29.00 target price for the company. Finally, Citigroup assumed coverage on QXO in a research note on Wednesday, July 16th. They issued a “buy” rating and a $33.00 price target on the stock.

QXO Stock Performance

Shares of QXO stock opened at $17.15 on Monday. The stock has a fifty day moving average of $19.41 and a 200 day moving average of $19.21. QXO has a 52 week low of $11.85 and a 52 week high of $24.69. The firm has a market capitalization of $11.55 billion, a price-to-earnings ratio of -81.64, a PEG ratio of 2.58 and a beta of 2.26. The company has a quick ratio of 2.15, a current ratio of 3.00 and a debt-to-equity ratio of 0.38.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC bought a new stake in QXO during the second quarter worth about $25,000. American Capital Advisory LLC lifted its holdings in shares of QXO by 258.0% during the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock valued at $25,000 after purchasing an additional 841 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of QXO by 1,740.9% during the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after purchasing an additional 1,149 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of QXO in the 2nd quarter worth approximately $28,000. Finally, Bogart Wealth LLC purchased a new stake in shares of QXO in the 3rd quarter worth approximately $25,000. 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.