QXO (NYSE:QXO) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of QXO (NYSE:QXO) from a strong sell rating to a sell rating in a research note published on Sunday.

QXO has been the topic of several other research reports. Oppenheimer upped their price target on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Citigroup decreased their price target on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday. BNP Paribas Exane initiated coverage on QXO in a research note on Monday, March 16th. They issued an “outperform” rating and a $30.00 price target on the stock. Zacks Research lowered QXO from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, KeyCorp upped their price target on QXO from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Sixteen investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

QXO Stock Performance

Shares of QXO stock opened at $16.34 on Friday. QXO has a 52 week low of $15.50 and a 52 week high of $27.61. The business’s fifty day simple moving average is $20.34 and its 200-day simple moving average is $21.12. The firm has a market cap of $11.85 billion, a PE ratio of -17.95, a price-to-earnings-growth ratio of 4.19 and a beta of 2.40. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35.

QXO (NYSE:QXO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. The firm’s revenue was up 12716.3% on a year-over-year basis. Equities analysts forecast that QXO will post 0.2 earnings per share for the current year.

Hedge Funds Weigh In On QXO

Hedge funds have recently bought and sold shares of the company. Arax Advisory Partners acquired a new position in QXO during the 4th quarter worth about $25,000. Russell Investments Group Ltd. acquired a new position in QXO during the 2nd quarter worth about $30,000. Root Financial Partners LLC lifted its stake in QXO by 73,350.0% during the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after acquiring an additional 1,467 shares in the last quarter. LRI Investments LLC lifted its stake in QXO by 129.1% during the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after acquiring an additional 835 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its stake in QXO by 57.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after acquiring an additional 575 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

About QXO

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. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.