CenterBook Partners LP Takes Position in QXO, Inc. $QXO

CenterBook Partners LP bought a new position in shares of QXO, Inc. (NYSE:QXO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 26,307 shares of the company’s stock, valued at approximately $501,000.

A number of other large investors have also recently bought and sold shares of the company. Advisors Capital Management LLC raised its position in QXO by 6.1% during the 3rd quarter. Advisors Capital Management LLC now owns 685,019 shares of the company’s stock worth $13,056,000 after buying an additional 39,177 shares during the last quarter. Axxcess Wealth Management LLC purchased a new stake in shares of QXO in the 3rd quarter valued at $757,000. Maridea Wealth Management LLC acquired a new stake in shares of QXO in the third quarter worth $1,662,000. Cornerstone Advisory LLC purchased a new position in shares of QXO during the third quarter worth $626,000. Finally, Zweig DiMenna Associates LLC lifted its position in QXO by 137.2% during the third quarter. Zweig DiMenna Associates LLC now owns 802,800 shares of the company’s stock valued at $15,301,000 after purchasing an additional 464,400 shares during the period. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating on shares of QXO in a research report on Friday. Weiss Ratings restated a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. William Blair reaffirmed an “outperform” rating on shares of QXO in a report on Wednesday, December 31st. Citigroup decreased their price target on QXO from $33.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Finally, Truist Financial dropped their price objective on shares of QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. One investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, QXO presently has a consensus rating of “Moderate Buy” and an average price target of $32.43.

QXO Price Performance

Shares of NYSE QXO opened at $25.54 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06. The firm has a fifty day moving average of $23.32 and a 200 day moving average of $20.77. The firm has a market cap of $17.23 billion, a PE ratio of -58.04, a PEG ratio of 3.19 and a beta of 2.55. QXO, Inc. has a one year low of $11.85 and a one year high of $27.61.

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.