QXO, Inc. $QXO Shares Bought by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC raised its stake in shares of QXO, Inc. (NYSE:QXO) by 28.8% during the second quarter, HoldingsChannel reports. The firm owned 131,925 shares of the company’s stock after purchasing an additional 29,525 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in QXO were worth $2,842,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in QXO. First Horizon Advisors Inc. increased its position in shares of QXO by 57.4% in the 1st quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company’s stock valued at $38,000 after acquiring an additional 1,017 shares during the period. AlphaQuest LLC lifted its holdings in shares of QXO by 22.9% during the second quarter. AlphaQuest LLC now owns 5,907 shares of the company’s stock worth $127,000 after purchasing an additional 1,099 shares during the period. Sheets Smith Wealth Management boosted its position in QXO by 6.4% in the second quarter. Sheets Smith Wealth Management now owns 18,410 shares of the company’s stock valued at $397,000 after buying an additional 1,112 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in QXO in the 2nd quarter worth approximately $25,000. Finally, Larson Financial Group LLC purchased a new position in QXO during the 1st quarter worth approximately $26,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Analyst Ratings Changes

QXO has been the topic of several analyst reports. Royal Bank Of Canada started coverage on QXO in a research report on Monday, July 21st. They set an “outperform” rating and a $33.00 price target on the stock. Benchmark raised QXO to a “strong-buy” rating in a report on Monday, August 25th. Wells Fargo & Company started coverage on QXO in a report on Tuesday, August 5th. They issued an “overweight” rating and a $30.00 price target for the company. Raymond James Financial started coverage on shares of QXO in a research note on Friday, September 5th. They set an “outperform” rating and a $28.00 price objective on the stock. Finally, Citigroup began coverage on shares of QXO in a report on Wednesday, July 16th. They set a “buy” rating and a $33.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, QXO has an average rating of “Moderate Buy” and an average price target of $32.85.

QXO Price Performance

Shares of NYSE QXO opened at $17.67 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.15 and a current ratio of 3.00. The firm has a fifty day moving average of $19.81 and a 200 day moving average of $19.06. The firm has a market cap of $11.90 billion, a PE ratio of -84.12, a PEG ratio of 2.58 and a beta of 2.25. QXO, Inc. has a one year low of $11.85 and a one year high of $24.69.

QXO (NYSE:QXO) last released its earnings results on Thursday, August 14th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.87 billion. As a group, research analysts predict that QXO, Inc. will post -0.13 EPS for the current fiscal year.

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.