QXO (NASDAQ:QXO) Research Coverage Started at Citigroup

Citigroup initiated coverage on shares of QXO (NASDAQ:QXO) in a research report sent to investors on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $33.00 target price on the stock.

Several other analysts also recently commented on the stock. Baird R W raised shares of QXO to a “strong-buy” rating in a research report on Thursday, June 12th. Truist Financial began coverage on shares of QXO in a report on Tuesday, July 1st. They set a “buy” rating and a $30.00 price target on the stock. Wolfe Research began coverage on shares of QXO in a report on Friday, June 6th. They set an “outperform” rating and a $44.00 price target on the stock. Oppenheimer began coverage on shares of QXO in a report on Wednesday, June 11th. They set an “outperform” rating and a $27.00 price target on the stock. Finally, William Blair began coverage on shares of QXO in a report on Wednesday, June 18th. They set an “outperform” rating on the stock. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $33.20.

QXO Stock Performance

Shares of QXO stock opened at $21.63 on Wednesday. QXO has a one year low of $10.61 and a one year high of $157.28. The company’s 50-day moving average is $19.61 and its 200 day moving average is $15.68. The company has a market capitalization of $12.55 billion, a price-to-earnings ratio of -2.37, a price-to-earnings-growth ratio of 4.09 and a beta of 2.41.

Institutional Investors Weigh In On QXO

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its position in shares of QXO by 57.4% during the first quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company’s stock valued at $38,000 after buying an additional 1,017 shares during the last quarter. Sheets Smith Wealth Management raised its position in shares of QXO by 6.4% during the second quarter. Sheets Smith Wealth Management now owns 18,410 shares of the company’s stock valued at $397,000 after buying an additional 1,112 shares during the last quarter. Farther Finance Advisors LLC bought a new stake in shares of QXO during the second quarter valued at approximately $25,000. Larson Financial Group LLC bought a new stake in shares of QXO during the first quarter valued at approximately $26,000. Finally, Lewis Asset Management LLC raised its position in shares of QXO by 18.3% during the first quarter. Lewis Asset Management LLC now owns 12,900 shares of the company’s stock valued at $175,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 58.68% of the company’s stock.

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.