QXO, Inc. (NYSE:QXO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

QXO, Inc. (NYSE:QXO) has been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, thirteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $28.00.

QXO has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a research report on Wednesday, August 26th. DA Davidson started coverage on shares of QXO in a research note on Monday, August 24th. They issued a “buy” rating and a $26.00 price target on the stock. KeyCorp reduced their price target on shares of QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Morgan Stanley initiated coverage on shares of QXO in a research report on Tuesday, August 4th. They issued an “overweight” rating and a $35.00 price objective for the company. Finally, Wall Street Zen upgraded shares of QXO from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QXO. Finepoint Capital LP increased its position in QXO by 30.7% during the 2nd quarter. Finepoint Capital LP now owns 18,113,850 shares of the company’s stock valued at $313,007,000 after buying an additional 4,255,435 shares in the last quarter. Fred Alger Management LLC raised its stake in shares of QXO by 75.4% in the fourth quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock worth $307,173,000 after purchasing an additional 6,844,574 shares during the last quarter. Cercano Management LLC lifted its holdings in shares of QXO by 2.4% during the fourth quarter. Cercano Management LLC now owns 10,815,832 shares of the company’s stock worth $208,637,000 after purchasing an additional 255,366 shares during the period. Consulta Ltd lifted its holdings in shares of QXO by 33.3% during the fourth quarter. Consulta Ltd now owns 10,000,000 shares of the company’s stock worth $192,900,000 after purchasing an additional 2,500,000 shares during the period. Finally, Geode Capital Management LLC boosted its position in QXO by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 8,777,960 shares of the company’s stock valued at $169,359,000 after buying an additional 61,120 shares during the last quarter. 58.68% of the stock is currently owned by institutional investors.

QXO Trading Down 4.2%

Shares of NYSE QXO opened at $11.61 on Friday. The stock has a market capitalization of $12.04 billion, a P/E ratio of -12.89, a PEG ratio of 2.20 and a beta of 2.32. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.11 and a quick ratio of 3.29. The business’s 50 day moving average is $13.47 and its two-hundred day moving average is $16.51. QXO has a 1-year low of $11.14 and a 1-year high of $27.61.

QXO (NYSE:QXO) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. As a group, research analysts expect that QXO will post 0.28 EPS for the current year.

QXO Company Profile

QXO, Inc is a building products distribution company focused on supplying contractors and other construction professionals. Its product portfolio includes roofing materials, siding, windows, waterproofing products and related exterior building supplies. The company serves residential and commercial construction and repair markets through branch locations, distribution centers and digital ordering channels.

QXO operates through Beacon, a major distributor of roofing and complementary building products in the United States and Canada.