QXO (NASDAQ:QXO) Now Covered by Analysts at Royal Bank Of Canada

Royal Bank Of Canada began coverage on shares of QXO (NASDAQ:QXO) in a report issued on Monday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $33.00 price objective on the stock.

Other equities analysts also recently issued reports about the stock. Oppenheimer initiated coverage on shares of QXO in a research note on Wednesday, June 11th. They issued an “outperform” rating and a $27.00 target price for the company. Truist Financial started coverage on shares of QXO in a report on Tuesday, July 1st. They issued a “buy” rating and a $30.00 price target on the stock. Baird R W raised QXO to a “strong-buy” rating in a research note on Thursday, June 12th. William Blair assumed coverage on QXO in a research report on Wednesday, June 18th. They issued an “outperform” rating on the stock. Finally, Wolfe Research started coverage on QXO in a report on Friday, June 6th. They set an “outperform” rating and a $44.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QXO presently has an average rating of “Buy” and an average target price of $33.17.

QXO Price Performance

QXO stock opened at $21.92 on Monday. The stock has a market capitalization of $12.72 billion, a price-to-earnings ratio of -2.40, a PEG ratio of 4.09 and a beta of 2.41. The business has a fifty day moving average price of $19.61 and a 200-day moving average price of $15.68. QXO has a 1-year low of $10.61 and a 1-year high of $157.28.

Institutional Investors Weigh In On QXO

A number of hedge funds have recently bought and sold shares of QXO. First Horizon Advisors Inc. lifted its holdings in QXO by 57.4% during the first quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company’s stock worth $38,000 after acquiring an additional 1,017 shares in the last quarter. Sheets Smith Wealth Management increased its holdings 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 worth $397,000 after buying an additional 1,112 shares in the last quarter. Farther Finance Advisors LLC acquired a new stake in QXO during the 2nd quarter worth about $25,000. Larson Financial Group LLC bought a new position in QXO in the 1st quarter valued at about $26,000. Finally, Lewis Asset Management LLC raised its holdings in shares of QXO by 18.3% in the 1st quarter. Lewis Asset Management LLC now owns 12,900 shares of the company’s stock worth $175,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds 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.