Prospera Financial Services Inc Takes $597,000 Position in QXO, Inc. $QXO

Prospera Financial Services Inc purchased a new position in shares of QXO, Inc. (NYSE:QXO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 27,700 shares of the company’s stock, valued at approximately $597,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Capital Advisory LLC boosted its position in QXO by 258.0% during the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after purchasing an additional 841 shares during the period. AlphaQuest LLC boosted its holdings in QXO by 22.9% in the 2nd quarter. AlphaQuest LLC now owns 5,907 shares of the company’s stock worth $127,000 after buying an additional 1,099 shares during the period. Sheets Smith Wealth Management boosted its holdings in QXO by 6.4% in the 2nd quarter. Sheets Smith Wealth Management now owns 18,410 shares of the company’s stock worth $397,000 after buying an additional 1,112 shares during the period. Farther Finance Advisors LLC purchased a new position in QXO in the 2nd quarter valued at approximately $25,000. Finally, Larson Financial Group LLC bought a new stake in QXO during the 1st quarter valued at $26,000. 58.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QXO. Vertical Research initiated coverage on QXO in a research report on Tuesday, October 21st. They issued a “buy” rating and a $30.00 price target for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of QXO in a research report on Thursday. Morgan Stanley initiated coverage on shares of QXO in a report on Tuesday, September 2nd. They issued an “overweight” rating and a $35.00 price target on the stock. Zacks Research lowered shares of QXO from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Finally, Wells Fargo & Company began coverage on QXO in a research note on Tuesday, August 5th. They set an “overweight” rating and a $30.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.85.

QXO Stock Performance

Shares of NYSE QXO opened at $17.47 on Friday. The stock’s 50-day moving average is $19.14 and its 200 day moving average is $19.30. The stock has a market cap of $11.78 billion, a price-to-earnings ratio of -83.16, a P/E/G ratio of 2.58 and a beta of 2.26. QXO, Inc. has a 1-year low of $11.85 and a 1-year high of $24.69. The company has a current ratio of 3.00, a quick ratio of 2.15 and a debt-to-equity ratio of 0.38.

QXO (NYSE:QXO) last issued its earnings results on Thursday, November 6th. The company reported $0.14 EPS for the quarter, topping 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 company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.78 billion. The business’s revenue was up 20726.7% on a year-over-year basis. On average, sell-side analysts anticipate that QXO, Inc. will post -0.13 EPS for the current fiscal year.

QXO 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.