QXO, Inc. (NYSE:QXO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

QXO, Inc. (NYSE:QXO) has earned a consensus rating of “Moderate Buy” from the seventeen analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $32.8462.

Several analysts have recently issued reports on the stock. Truist Financial reduced their price target on shares of QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Wells Fargo & Company assumed coverage on shares of QXO in a research report on Tuesday, August 5th. They set an “overweight” rating and a $30.00 price target on the stock. KeyCorp set a $28.00 price target on shares of QXO in a research report on Wednesday, October 1st. Benchmark raised shares of QXO to a “strong-buy” rating in a research report on Monday, August 25th. Finally, Vertical Research assumed coverage on shares of QXO in a research report on Tuesday, October 21st. They set a “buy” rating and a $30.00 price target on the stock.

QXO Trading Down 0.5%

Shares of QXO stock opened at $17.67 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.00 and a quick ratio of 2.15. The firm has a market cap of $11.90 billion, a PE ratio of -84.12, a price-to-earnings-growth ratio of 2.58 and a beta of 2.25. The company has a 50-day moving average of $19.81 and a two-hundred day moving average of $19.06. QXO has a 1-year low of $11.85 and a 1-year high of $24.69.

QXO (NYSE:QXO) last announced its earnings results on Thursday, August 14th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.87 billion. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. On average, analysts predict that QXO will post -0.13 EPS for the current year.

Institutional Trading of QXO

Hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC acquired a new stake in QXO in the second quarter valued at approximately $25,000. American Capital Advisory LLC raised its holdings in QXO by 258.0% in the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock valued at $25,000 after acquiring an additional 841 shares in the last quarter. Bogart Wealth LLC acquired a new stake in QXO in the third quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new stake in QXO in the first quarter valued at approximately $26,000. Finally, Allworth Financial LP raised its holdings in QXO by 1,740.9% in the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after acquiring an additional 1,149 shares in the last quarter. 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.