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

QXO, Inc. (NYSE:QXO) has earned an average rating of “Moderate Buy” from the seventeen ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, thirteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $28.00.

Several analysts have commented on the stock. Morgan Stanley began coverage on shares of QXO in a research report on Tuesday, August 4th. They set an “overweight” rating and a $35.00 price target for the company. Wall Street Zen upgraded shares of QXO from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. Citigroup decreased their target price on shares of QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, July 13th. KeyCorp lowered their target price on shares of QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Finally, Robert W. Baird reduced their price target on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th.

QXO Trading Up 0.5%

QXO opened at $13.42 on Monday. The company has a current ratio of 4.11, a quick ratio of 3.29 and a debt-to-equity ratio of 0.66. The firm has a market cap of $13.92 billion, a price-to-earnings ratio of -14.91, a PEG ratio of 2.30 and a beta of 2.32. QXO has a 12 month low of $12.80 and a 12 month high of $27.61. The stock has a fifty day moving average price of $14.53 and a 200-day moving average price of $17.90.

QXO (NYSE:QXO) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%.The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. As a group, equities research analysts anticipate that QXO will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On QXO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. lifted its stake in QXO by 6.8% during the 4th quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company’s stock valued at $122,000 after acquiring an additional 400 shares during the period. NewEdge Advisors LLC increased its stake in shares of QXO by 42.4% in the fourth quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock worth $32,000 after acquiring an additional 500 shares during the period. Maple Capital Management Inc. raised its holdings in shares of QXO by 4.7% during the fourth quarter. Maple Capital Management Inc. now owns 11,988 shares of the company’s stock worth $231,000 after purchasing an additional 543 shares during the last quarter. Allworth Financial LP lifted its position in QXO by 27.2% during the fourth quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock valued at $50,000 after purchasing an additional 552 shares during the period. Finally, Red Door Wealth Management LLC lifted its position in QXO by 3.9% during the first quarter. Red Door Wealth Management LLC now owns 15,982 shares of the company’s stock valued at $310,000 after purchasing an additional 600 shares during the period. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

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.