Itau Unibanco Holding S.A. Buys New Shares in QXO, Inc. $QXO

Itau Unibanco Holding S.A. purchased a new stake in QXO, Inc. (NYSE:QXO) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 39,000 shares of the company’s stock, valued at approximately $840,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cherry Creek Investment Advisors Inc. raised its holdings in shares of QXO by 48.5% in the 2nd quarter. Cherry Creek Investment Advisors Inc. now owns 69,780 shares of the company’s stock valued at $1,503,000 after purchasing an additional 22,800 shares in the last quarter. Amundi boosted its position in shares of QXO by 26.4% during the 1st quarter. Amundi now owns 715,087 shares of the company’s stock worth $9,861,000 after acquiring an additional 149,504 shares in the last quarter. Brown Miller Wealth Management LLC acquired a new stake in shares of QXO during the 2nd quarter worth about $592,000. Y Intercept Hong Kong Ltd lifted its stake in QXO by 530.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 376,483 shares of the company’s stock worth $8,109,000 after purchasing an additional 316,754 shares during the last quarter. Finally, Deltec Asset Management LLC lifted its stake in QXO by 250.0% during the second quarter. Deltec Asset Management LLC now owns 35,000 shares of the company’s stock worth $754,000 after purchasing an additional 25,000 shares during the last quarter. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Stock Down 0.1%

Shares of QXO stock opened at $17.47 on Friday. The company has a market cap of $11.78 billion, a P/E ratio of -83.16, a PEG ratio of 2.58 and a beta of 2.26. The firm has a fifty day moving average of $19.14 and a two-hundred day moving average of $19.34. 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 one year low of $11.85 and a one year high of $24.69.

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

Wall Street Analyst Weigh In

QXO has been the topic of a number of research analyst reports. Truist Financial cut their price objective on shares of QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Royal Bank Of Canada started coverage on shares of QXO in a research report on Monday, July 21st. They issued an “outperform” rating and a $33.00 target price on the stock. KeyCorp set a $28.00 price target on shares of QXO in a research report on Wednesday, October 1st. Wells Fargo & Company initiated coverage on shares of QXO in a research note on Tuesday, August 5th. They issued an “overweight” rating and a $30.00 price objective for the company. Finally, Stephens started coverage on QXO in a report on Wednesday, August 13th. They set an “overweight” rating and a $29.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, QXO has a consensus rating of “Moderate Buy” and a consensus 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.