QXO, Inc. $QXO Shares Purchased by ARS Investment Partners LLC

ARS Investment Partners LLC lifted its stake in shares of QXO, Inc. (NYSE:QXO) by 12.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,156 shares of the company’s stock after purchasing an additional 29,047 shares during the quarter. ARS Investment Partners LLC’s holdings in QXO were worth $4,844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. American Capital Advisory LLC raised its holdings in QXO by 258.0% in the 2nd 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 during the last quarter. Future Financial Wealth Managment LLC grew its stake in QXO by 14.3% in the third quarter. Future Financial Wealth Managment LLC now owns 8,000 shares of the company’s stock worth $152,000 after purchasing an additional 1,000 shares in the last quarter. AlphaQuest LLC boosted its holdings in shares of QXO by 22.9% in the 2nd quarter. AlphaQuest LLC now owns 5,907 shares of the company’s stock valued at $127,000 after buying an additional 1,099 shares during the period. Sheets Smith Wealth Management lifted its stake in QXO by 6.4% in 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. Finally, Farther Finance Advisors LLC bought a new position in QXO in the 2nd quarter worth approximately $25,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on QXO shares. Morgan Stanley initiated coverage on shares of QXO in a research report on Tuesday, September 2nd. They issued an “overweight” rating and a $35.00 price target on the stock. Loop Capital began coverage on QXO in a research report on Thursday, December 11th. They set a “buy” rating and a $31.00 target price for the company. Truist Financial dropped their target price on shares of QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. KeyCorp set a $28.00 price objective on shares of QXO in a report on Wednesday, October 1st. Finally, Vertical Research started coverage on shares of QXO in a report on Tuesday, October 21st. They set a “buy” rating and a $30.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, QXO presently has a consensus rating of “Moderate Buy” and an average target price of $32.57.

QXO Stock Performance

Shares of QXO opened at $21.57 on Thursday. The stock has a market capitalization of $14.54 billion, a price-to-earnings ratio of -49.01, a PEG ratio of 3.31 and a beta of 2.42. QXO, Inc. has a 12 month low of $11.85 and a 12 month high of $24.69. The firm has a fifty day simple moving average of $18.98 and a 200 day simple moving average of $20.09. The company has a current ratio of 3.06, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37.

QXO (NYSE:QXO) last issued its earnings results on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.78 billion. QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. The firm’s revenue for the quarter was up 20726.7% compared to the same quarter last year. Research analysts forecast that QXO, Inc. will post -0.13 EPS for the current fiscal year.

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.