QXO, Inc. (NYSE:QXO) Given Average Recommendation of “Moderate Buy” by Analysts

QXO, Inc. (NYSE:QXO) has received an average recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and sixteen have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $32.00.

QXO has been the subject of a number of research analyst reports. Stephens reduced their price target on shares of QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. BNP Paribas Exane initiated coverage on shares of QXO in a research note on Monday, March 16th. They issued an “outperform” rating and a $30.00 price target for the company. Robert W. Baird reduced their price target on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Zacks Research lowered shares of QXO from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th.

Institutional Trading of QXO

Several institutional investors and hedge funds have recently added to or reduced their stakes in QXO. Royal Bank of Canada lifted its stake in QXO by 67.5% during the first quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock valued at $1,620,000 after purchasing an additional 48,248 shares during the last quarter. AQR Capital Management LLC acquired a new stake in QXO during the first quarter valued at approximately $615,000. Millennium Management LLC lifted its stake in QXO by 6.6% during the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock valued at $4,361,000 after purchasing an additional 20,067 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in QXO by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock valued at $9,449,000 after purchasing an additional 81,758 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in QXO during the second quarter valued at approximately $837,000. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Trading Up 1.8%

Shares of NYSE:QXO opened at $17.71 on Friday. The company has a 50 day moving average of $19.59 and a 200-day moving average of $21.10. The firm has a market cap of $12.84 billion, a P/E ratio of -19.46, a P/E/G ratio of 4.46 and a beta of 2.40. QXO has a twelve month low of $15.50 and a twelve month high of $27.61. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35.

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

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.