QXO (NYSE:QXO) Rating Lowered to Sell at Wall Street Zen

QXO (NYSE:QXO) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other analysts have also recently commented on the company. Citigroup lowered their price target on QXO from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. Loop Capital initiated coverage on QXO in a research report on Thursday, December 11th. They issued a “buy” rating and a $31.00 target price on the stock. Truist Financial cut 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. Finally, Royal Bank Of Canada set a $30.00 price objective on shares of QXO in a research note on Friday, January 9th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, QXO currently has an average rating of “Moderate Buy” and a consensus target price of $32.43.

QXO Stock Down 0.0%

QXO stock opened at $23.88 on Friday. The stock has a market capitalization of $16.10 billion, a PE ratio of -40.47, a price-to-earnings-growth ratio of 3.23 and a beta of 2.55. QXO has a 52 week low of $11.97 and a 52 week high of $27.61. The company has a quick ratio of 2.24, a current ratio of 3.06 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $23.61 and a 200 day moving average of $20.94.

QXO (NYSE:QXO) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). QXO had a positive return on equity of 3.59% and a negative net margin of 4.08%.The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.19 billion. The firm’s quarterly revenue was up 14725.0% compared to the same quarter last year. Sell-side analysts forecast that QXO will post -0.13 earnings per share for the current year.

Institutional Trading of QXO

Institutional investors have recently made changes to their positions in the company. American Capital Advisory LLC grew its position in shares of QXO by 258.0% in the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock valued at $25,000 after purchasing an additional 841 shares in the last quarter. Bogart Wealth LLC acquired a new position in QXO during the third quarter worth $25,000. Arax Advisory Partners purchased a new stake in QXO in the 4th quarter valued at $25,000. Allworth Financial LP grew its holdings in QXO by 1,740.9% in the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after buying an additional 1,149 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of QXO in the 2nd quarter worth $28,000. 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.