QXO (NYSE:QXO) Sets New 12-Month Low – Should You Sell?

QXO, Inc. (NYSE:QXO) shares reached a new 52-week low on Friday . The stock traded as low as $13.15 and last traded at $13.34, with a volume of 18190912 shares. The stock had previously closed at $14.11.

Wall Street Analyst Weigh In

Several brokerages have recently commented on QXO. Zacks Research raised shares of QXO from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Robert W. Baird cut their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. KeyCorp reduced their target price on QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Morgan Stanley started coverage on QXO in a research report on Tuesday, August 4th. They issued an “overweight” rating and a $35.00 target price for the company. Finally, Stephens lowered their price target on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.71.

QXO Price Performance

The company’s fifty day moving average price is $15.31 and its 200 day moving average price is $18.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.47 and a current ratio of 4.11. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of -14.82, a price-to-earnings-growth ratio of 2.43 and a beta of 2.28.

QXO (NYSE:QXO) last announced 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. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. Equities research analysts expect that QXO, Inc. will post 0.29 earnings per share for the current year.

Institutional Trading of QXO

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arax Advisory Partners bought a new stake in shares of QXO in the 4th quarter worth approximately $25,000. LRI Investments LLC grew its stake in QXO by 129.1% during the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after buying an additional 835 shares during the last quarter. Root Financial Partners LLC grew its stake in QXO by 73,350.0% during the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after buying an additional 1,467 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in QXO in the second quarter worth $30,000. Finally, NewEdge Advisors LLC increased its position in 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 buying an additional 500 shares during the period. 58.68% of the stock is currently owned by institutional investors and hedge funds.

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.