QXO (NYSE:QXO) Now Covered by Analysts at BNP Paribas Exane

BNP Paribas Exane began coverage on shares of QXO (NYSE:QXO) in a research report sent to investors on Monday morning, MarketBeat.com reports. The firm issued an outperform rating and a $30.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Wall Street Zen cut QXO from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Oppenheimer increased their target price on shares of QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Citigroup reduced their price target on shares of QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Royal Bank Of Canada set a $30.00 price target on shares of QXO in a report on Friday, January 9th. Finally, William Blair reiterated an “outperform” rating on shares of QXO in a research report on Wednesday, December 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.27.

QXO Trading Up 2.5%

Shares of QXO stock opened at $20.69 on Monday. QXO has a fifty-two week low of $11.97 and a fifty-two week high of $27.61. The stock’s fifty day moving average price is $23.73 and its two-hundred day moving average price is $21.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58. The company has a market cap of $14.66 billion, a PE ratio of -35.07, a P/E/G ratio of 3.22 and a beta of 2.51.

QXO (NYSE:QXO) last posted 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). QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.19 billion. QXO’s quarterly revenue was up 14725.0% on a year-over-year basis. Equities analysts predict that QXO will post -0.13 EPS for the current fiscal year.

Institutional Trading of QXO

Hedge funds have recently made changes to their positions in the company. Osbon Capital Management LLC bought a new stake in shares of QXO during the fourth quarter worth about $201,000. World Investment Advisors bought a new position in QXO in the 4th quarter valued at approximately $631,000. Vericrest Private Wealth bought a new position in QXO in the 4th quarter valued at approximately $447,000. Redwood Family Wealth LLC acquired a new stake in QXO during the 4th quarter worth approximately $293,000. Finally, Bank of Hawaii boosted its position in QXO by 92.6% during the 4th quarter. Bank of Hawaii now owns 232,460 shares of the company’s stock worth $4,484,000 after buying an additional 111,743 shares during the period. 58.68% of the stock is owned by institutional investors and hedge funds.

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.