Intact Investment Management Inc. Takes Position in QXO, Inc. $QXO

Intact Investment Management Inc. purchased a new position in shares of QXO, Inc. (NYSE:QXO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 51,500 shares of the company’s stock, valued at approximately $982,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC increased its position in shares of QXO by 5.0% during the 3rd quarter. SG Americas Securities LLC now owns 17,499 shares of the company’s stock valued at $334,000 after purchasing an additional 832 shares during the last quarter. American Capital Advisory LLC grew its position in QXO by 258.0% during the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock valued at $25,000 after buying an additional 841 shares during the period. Future Financial Wealth Managment LLC increased its holdings in QXO by 14.3% during the third quarter. Future Financial Wealth Managment LLC now owns 8,000 shares of the company’s stock worth $152,000 after buying an additional 1,000 shares during the last quarter. AlphaQuest LLC increased its holdings in QXO by 22.9% during the second quarter. AlphaQuest LLC now owns 5,907 shares of the company’s stock worth $127,000 after buying an additional 1,099 shares during the last quarter. Finally, Farther Finance Advisors LLC bought a new stake in QXO in the second quarter worth about $25,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Price Performance

QXO stock opened at $23.95 on Tuesday. The firm has a 50 day moving average of $21.31 and a 200-day moving average of $20.33. The firm has a market capitalization of $16.15 billion, a P/E ratio of -54.42, a price-to-earnings-growth ratio of 2.94 and a beta of 2.44. 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, Inc. has a 12 month low of $11.85 and a 12 month high of $26.24.

QXO (NYSE:QXO) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.78 billion. The company’s quarterly revenue was up 20726.7% on a year-over-year basis. As a group, sell-side analysts predict that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QXO. Weiss Ratings restated a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. Royal Bank Of Canada set a $30.00 target price on QXO in a research report on Friday, January 9th. Citigroup lowered their target price on QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Truist Financial cut their price target on QXO from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, December 19th. Finally, Benchmark reissued a “buy” rating on shares of QXO in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.