Motley Fool Wealth Management LLC Cuts Position in QXO, Inc. $QXO

Motley Fool Wealth Management LLC decreased its holdings in QXO, Inc. (NYSE:QXO) by 13.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 347,861 shares of the company’s stock after selling 55,818 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in QXO were worth $6,710,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. LRI Investments LLC raised its stake in shares of QXO by 129.1% during the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after purchasing an additional 835 shares during the period. Newbridge Financial Services Group Inc. raised its stake in shares of QXO by 57.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after purchasing an additional 575 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of QXO during the second quarter valued at approximately $30,000. Allworth Financial LP raised its stake in shares of QXO by 66.9% during the third quarter. Allworth Financial LP now owns 2,028 shares of the company’s stock valued at $39,000 after purchasing an additional 813 shares during the period. Finally, Danske Bank A S purchased a new stake in shares of QXO during the third quarter valued at approximately $53,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Analyst Upgrades and Downgrades

QXO has been the topic of a number of analyst reports. Zacks Research lowered shares of QXO from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. KeyCorp lifted their price objective on shares of QXO from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. BNP Paribas Exane initiated coverage on shares of QXO in a research note on Monday, March 16th. They set an “outperform” rating and a $30.00 price objective on the stock. Citigroup dropped their price objective on shares of QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Finally, Royal Bank Of Canada dropped their price objective on shares of QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.14.

QXO Stock Performance

QXO stock opened at $16.46 on Wednesday. The company has a market cap of $11.93 billion, a PE ratio of -18.08, a P/E/G ratio of 3.98 and a beta of 2.30. The company has a fifty day moving average price of $19.03 and a two-hundred day moving average price of $21.03. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. QXO, Inc. has a 12 month low of $15.32 and a 12 month high of $27.61.

QXO (NYSE:QXO) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The business 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 revenue was up 12716.3% compared to the same quarter last year. Research analysts expect that QXO, Inc. will post 0.2 earnings per share for the current 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.