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

Shares of QXO, Inc. (NYSE:QXO) have received an average rating of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $32.4286.

Several brokerages have recently issued reports on QXO. William Blair reiterated an “outperform” rating on shares of QXO in a report on Wednesday, December 31st. Benchmark reiterated a “buy” rating on shares of QXO in a research note on Friday, January 16th. Oppenheimer increased their price target on shares of QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Loop Capital assumed coverage on shares of QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 price target on the stock. Finally, Royal Bank Of Canada set a $30.00 target price on QXO in a report on Friday, January 9th.

Institutional Investors Weigh In On QXO

Several institutional investors and hedge funds have recently added to or reduced their stakes in QXO. Alpha Wave Global LP bought a new stake in shares of QXO in the 2nd quarter worth approximately $525,366,000. Vanguard Group Inc. increased its stake in QXO by 91.0% in the second quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock valued at $1,016,525,000 after acquiring an additional 22,484,977 shares during the period. Affinity Partners GP LP raised its position in QXO by 99.1% in the second quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock worth $703,745,000 after purchasing an additional 16,260,163 shares in the last quarter. Baillie Gifford & Co. lifted its stake in QXO by 16,117.6% during the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after purchasing an additional 14,644,305 shares during the period. Finally, MTCO Ltd. acquired a new stake in QXO during the third quarter valued at approximately $208,534,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

QXO Price Performance

Shares of NYSE:QXO opened at $23.20 on Wednesday. The firm has a market cap of $15.65 billion, a price-to-earnings ratio of -52.73, a P/E/G ratio of 2.87 and a beta of 2.55. QXO has a 1 year low of $11.85 and a 1 year high of $26.24. The company has a current ratio of 3.06, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $22.45 and a 200 day simple moving average of $20.42.

QXO Company 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.