QXO, Inc. $QXO Holdings Raised by Granahan Investment Management LLC

Granahan Investment Management LLC lifted its stake in shares of QXO, Inc. (NYSE:QXO) by 28.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 799,612 shares of the company’s stock after purchasing an additional 178,793 shares during the quarter. Granahan Investment Management LLC owned about 0.12% of QXO worth $15,425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of QXO. Baillie Gifford & Co. raised its stake in shares of QXO by 16,117.6% during the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after purchasing an additional 14,644,305 shares in the last quarter. MTCO Ltd. acquired a new position in QXO during the third quarter worth about $208,534,000. Fred Alger Management LLC acquired a new position in QXO during the third quarter worth about $173,053,000. Schf GPE LLC grew its holdings in QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after acquiring an additional 8,943,089 shares during the period. Finally, Vanguard Group Inc. grew its holdings in QXO by 17.2% during the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after acquiring an additional 8,131,331 shares during the period. 58.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on QXO shares. Robert W. Baird lowered their target price on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Citigroup lowered their target price on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 15th. KeyCorp lifted their target price on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Zacks Research raised QXO from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Finally, BNP Paribas Exane started coverage on QXO in a report on Monday, March 16th. They set an “outperform” rating and a $30.00 target price on the stock. Fifteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, QXO presently has an average rating of “Moderate Buy” and an average target price of $31.14.

QXO Trading Up 1.6%

Shares of QXO opened at $16.96 on Wednesday. The business’s 50-day moving average price is $18.76 and its 200 day moving average price is $21.00. The stock has a market capitalization of $12.30 billion, a P/E ratio of -18.64, a P/E/G ratio of 4.28 and a beta of 2.30. QXO, Inc. has a 1-year low of $14.75 and a 1-year 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 analysts’ expectations of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.QXO’s quarterly revenue was up 12716.3% on a year-over-year basis. Analysts expect that QXO, Inc. will post 0.2 earnings per share for the current year.

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. 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.