Appleton Partners Inc. MA Takes Position in QXO, Inc. $QXO

Appleton Partners Inc. MA purchased a new stake in QXO, Inc. (NYSE:QXO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 613,911 shares of the company’s stock, valued at approximately $11,842,000. Appleton Partners Inc. MA owned approximately 0.09% of QXO at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QXO. Vanguard Group Inc. raised its position in QXO by 17.2% in the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after acquiring an additional 8,131,331 shares in the last quarter. Affinity Partners GP LP boosted its position in shares of QXO by 99.1% during the 2nd quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock worth $703,745,000 after purchasing an additional 16,260,163 shares in the last quarter. Alpha Wave Global LP acquired a new position in shares of QXO during the 2nd quarter worth $525,366,000. Finepoint Capital LP increased its holdings in shares of QXO by 5.4% in the 3rd quarter. Finepoint Capital LP now owns 22,295,615 shares of the company’s stock valued at $424,954,000 after purchasing an additional 1,142,747 shares in the last quarter. Finally, Schf GPE LLC lifted its stake in shares of QXO by 204.3% in 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 period. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Trading Up 8.9%

Shares of QXO opened at $20.30 on Tuesday. QXO, Inc. has a fifty-two week low of $11.97 and a fifty-two week high of $27.61. The company has a market capitalization of $14.38 billion, a PE ratio of -34.40, a price-to-earnings-growth ratio of 2.97 and a beta of 2.51. The stock has a fifty day moving average of $23.29 and a two-hundred day moving average of $21.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58.

QXO (NYSE:QXO) last posted its quarterly earnings data 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 firm’s revenue for the quarter was up 14725.0% on a year-over-year basis. As a group, analysts forecast that QXO, Inc. will post -0.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on QXO. Oppenheimer boosted their price objective on shares of QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Royal Bank Of Canada set a $30.00 price target on shares of QXO in a research report on Friday, January 9th. BNP Paribas Exane initiated coverage on QXO in a report on Monday, March 16th. They issued an “outperform” rating and a $30.00 price target on the stock. Truist Financial lowered their price target on QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, December 19th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. 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 company’s stock. According to data from MarketBeat, QXO has a consensus rating of “Moderate Buy” and a consensus target price of $32.27.

About QXO

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.