Bullseye Asset Management LLC Buys 92,000 Shares of QXO, Inc. $QXO

Bullseye Asset Management LLC raised its position in shares of QXO, Inc. (NYSE:QXO) by 613.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,000 shares of the company’s stock after purchasing an additional 92,000 shares during the period. Bullseye Asset Management LLC’s holdings in QXO were worth $2,039,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of QXO. SG Americas Securities LLC raised its holdings in 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 acquiring an additional 832 shares during the period. Future Financial Wealth Managment LLC boosted its holdings in shares of QXO by 14.3% in the third quarter. Future Financial Wealth Managment LLC now owns 8,000 shares of the company’s stock worth $152,000 after acquiring an additional 1,000 shares during the period. Allworth Financial LP grew its position in shares of QXO by 1,740.9% in the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after purchasing an additional 1,149 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of QXO in the second quarter valued at $28,000. Finally, Bogart Wealth LLC bought a new stake in shares of QXO during the 3rd quarter valued at $25,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Stock Performance

Shares of QXO opened at $20.18 on Friday. QXO, Inc. has a 12-month low of $11.97 and a 12-month high of $27.61. The company has a current ratio of 3.58, a quick ratio of 2.61 and a debt-to-equity ratio of 0.37. The company has a market cap of $14.30 billion, a PE ratio of -34.20, a price-to-earnings-growth ratio of 3.11 and a beta of 2.51. The stock has a 50-day moving average price of $23.78 and a 200-day moving average price of $21.03.

QXO (NYSE:QXO) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.19 billion. QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The business’s revenue for the quarter was up 14725.0% compared to the same quarter last year. As a group, equities analysts forecast that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank Of Canada set a $30.00 target price on QXO in a research note on Friday, January 9th. Benchmark reiterated a “buy” rating on shares of QXO in a research report on Friday, February 20th. Truist Financial lowered 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. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. Finally, Wall Street Zen lowered shares of QXO from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.43.

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.