QXO (NYSE:QXO) Reaches New 12-Month Low – What’s Next?

QXO, Inc. (NYSE:QXO)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $13.82 and last traded at $13.9850, with a volume of 4526401 shares. The stock had previously closed at $14.40.

Analyst Ratings Changes

Several research firms have issued reports on QXO. Zacks Research lowered QXO from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Stephens cut their price objective on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Robert W. Baird reduced their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Citigroup lowered their price target on shares of QXO from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, July 13th. 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. Fifteen analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, QXO currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.57.

QXO Stock Performance

The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $16.45 and a two-hundred day moving average price of $20.23. The stock has a market cap of $10.10 billion, a P/E ratio of -15.39, a price-to-earnings-growth ratio of 3.69 and a beta of 2.23.

QXO (NYSE:QXO) last issued its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. QXO’s revenue was up 12716.3% on a year-over-year basis. On average, sell-side analysts forecast that QXO, Inc. will post 0.2 earnings per share for the current fiscal year.

Institutional Trading of QXO

Several hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. raised its position in QXO by 6.8% in the 4th quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company’s stock worth $122,000 after purchasing an additional 400 shares during the period. Cherry Creek Investment Advisors Inc. boosted its position in shares of QXO by 0.6% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company’s stock valued at $1,633,000 after buying an additional 474 shares during the period. NewEdge Advisors LLC grew its stake in shares of QXO by 42.4% during the fourth quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock valued at $32,000 after buying an additional 500 shares during the last quarter. Maple Capital Management Inc. grew its stake 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 valued at $231,000 after buying an additional 543 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of QXO by 27.2% in the fourth quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock worth $50,000 after buying an additional 552 shares during the period. Hedge funds and other institutional investors own 58.68% of the company’s stock.

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.