Arkadios Wealth Advisors Raises Position in QXO, Inc. $QXO

Arkadios Wealth Advisors boosted its holdings in QXO, Inc. (NYSE:QXO) by 112.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,903 shares of the company’s stock after purchasing an additional 22,148 shares during the period. Arkadios Wealth Advisors’ holdings in QXO were worth $799,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in QXO. Farther Finance Advisors LLC bought a new position in shares of QXO during the second quarter valued at about $25,000. American Capital Advisory LLC boosted its holdings in QXO by 258.0% during 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 period. Allworth Financial LP grew its position in QXO by 1,740.9% during the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock worth $26,000 after acquiring an additional 1,149 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in QXO during the 2nd quarter worth approximately $28,000. Finally, Bogart Wealth LLC purchased a new position in QXO in the 3rd quarter worth approximately $25,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Price Performance

QXO stock opened at $23.90 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.06 and a quick ratio of 2.24. QXO, Inc. has a 1 year low of $11.85 and a 1 year high of $26.24. The firm has a 50-day moving average of $21.17 and a 200 day moving average of $20.32. The company has a market cap of $16.12 billion, a P/E ratio of -54.31, a PEG ratio of 2.94 and a beta of 2.44.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Royal Bank Of Canada set a $30.00 price objective on QXO in a research note on Friday, January 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. Truist Financial cut their price target on shares of QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, December 19th. Citigroup decreased their price objective on shares of QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Finally, Oppenheimer upped their price objective on shares of QXO from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. One research 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.43.

QXO 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.