QXO (NYSE:QXO) Price Target Lowered to $28.00 at Royal Bank Of Canada

QXO (NYSE:QXO) had its price objective decreased by Royal Bank Of Canada from $30.00 to $28.00 in a research report sent to investors on Monday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. Truist Financial reduced their target price on shares of QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. Loop Capital began coverage on shares of QXO in a research note on Thursday, December 11th. They set a “buy” rating and a $31.00 price objective on the stock. Oppenheimer increased their price objective on shares of QXO from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. Wall Street Zen downgraded shares of QXO from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Citigroup dropped their price objective 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. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, QXO has a consensus rating of “Moderate Buy” and a consensus target price of $32.13.

QXO Stock Performance

Shares of NYSE:QXO opened at $19.01 on Monday. The firm has a market cap of $13.50 billion, a PE ratio of -32.23, a price-to-earnings-growth ratio of 3.04 and a beta of 2.50. The firm’s 50 day simple moving average is $22.32 and its 200-day simple moving average is $20.88. QXO has a one year low of $11.97 and a one year high of $27.61. 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 issued its 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’s revenue for the quarter was up 14725.0% on a year-over-year basis. As a group, equities analysts predict that QXO will post -0.13 EPS for the current year.

Hedge Funds Weigh In On QXO

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sunbelt Securities Inc. boosted its stake in shares of QXO by 6.8% during the fourth quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company’s stock valued at $122,000 after purchasing an additional 400 shares in the last quarter. Cherry Creek Investment Advisors Inc. boosted its stake in QXO by 0.6% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company’s stock valued at $1,633,000 after acquiring an additional 474 shares in the last quarter. NewEdge Advisors LLC boosted its stake in QXO by 42.4% in the fourth quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares in the last quarter. Maple Capital Management Inc. boosted its stake in QXO by 4.7% in the fourth quarter. Maple Capital Management Inc. now owns 11,988 shares of the company’s stock valued at $231,000 after acquiring an additional 543 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in QXO by 27.2% in the fourth quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock valued at $50,000 after acquiring an additional 552 shares in the last quarter. 58.68% of the stock is currently owned by institutional investors.

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.