QXO, Inc. (NYSE:QXO) Receives Consensus Rating of “Moderate Buy” from Brokerages

QXO, Inc. (NYSE:QXO) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $32.4286.

Several research firms have recently issued reports on QXO. Loop Capital initiated coverage on shares of QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 price objective on the stock. Citigroup lowered their target price on shares of QXO from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Royal Bank Of Canada set a $30.00 target price on shares of QXO in a research report on Friday, January 9th. William Blair restated an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. Finally, Truist Financial decreased their price target on shares of QXO from $28.00 to $26.00 and set a “buy” rating for the company in a report on Friday, December 19th.

QXO Stock Down 4.4%

Shares of QXO stock opened at $21.86 on Friday. The stock’s fifty day moving average price is $23.71 and its 200 day moving average price is $21.01. QXO has a 1-year low of $11.97 and a 1-year high of $27.61. The company has a market cap of $15.49 billion, a price-to-earnings ratio of -37.05, a price-to-earnings-growth ratio of 2.97 and a beta of 2.51. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.24.

QXO (NYSE:QXO) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.19 billion. QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. The company’s revenue was up 14725.0% compared to the same quarter last year. On average, research analysts expect that QXO will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QXO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in QXO by 67.5% during the 1st quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock worth $1,620,000 after acquiring an additional 48,248 shares during the period. AQR Capital Management LLC acquired a new position in shares of QXO in the first quarter valued at about $615,000. Millennium Management LLC raised its stake in shares of QXO by 6.6% in the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock worth $4,361,000 after purchasing an additional 20,067 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of QXO by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock worth $9,449,000 after purchasing an additional 81,758 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of QXO by 113.7% during the second quarter. Envestnet Asset Management Inc. now owns 411,643 shares of the company’s stock worth $8,867,000 after purchasing an additional 218,983 shares during the period. Hedge funds and other institutional investors own 58.68% of the company’s stock.

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.