Bank of Hawaii Takes Position in QXO, Inc. $QXO

Bank of Hawaii bought a new position in shares of QXO, Inc. (NYSE:QXO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 120,717 shares of the company’s stock, valued at approximately $2,301,000.

A number of other large investors have also added to or reduced their stakes in QXO. Alpha Wave Global LP bought a new position in QXO during the second quarter worth $525,366,000. Vanguard Group Inc. lifted its holdings in QXO by 91.0% in the second quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock worth $1,016,525,000 after acquiring an additional 22,484,977 shares during the last quarter. Affinity Partners GP LP boosted its stake in QXO by 99.1% in the second quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock valued at $703,745,000 after acquiring an additional 16,260,163 shares during the period. Schf GPE LLC grew its holdings in shares of QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after purchasing an additional 8,943,089 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in shares of QXO during the 2nd quarter worth approximately $178,836,000. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Price Performance

NYSE QXO opened at $20.18 on Friday. QXO, Inc. has a fifty-two week low of $11.97 and a fifty-two week high of $27.61. The stock’s 50-day moving average is $23.78 and its two-hundred day moving average is $21.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.61. The firm has a market cap of $14.30 billion, a P/E ratio of -34.20, a price-to-earnings-growth ratio of 3.11 and a beta of 2.51.

QXO (NYSE:QXO) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.19 billion. The company’s revenue was up 14725.0% on a year-over-year basis. On average, analysts anticipate that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. Loop Capital began coverage on shares of QXO in a research report on Thursday, December 11th. They issued a “buy” rating and a $31.00 target price for the company. Benchmark reaffirmed a “buy” rating on shares of QXO in a research note on Friday, February 20th. Royal Bank Of Canada set a $30.00 price target on QXO in a research report on Friday, January 9th. Finally, Wall Street Zen lowered 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 assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.43.

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.