Moors & Cabot Inc. Invests $645,000 in QXO, Inc. $QXO

Moors & Cabot Inc. bought a new position in shares of QXO, Inc. (NYSE:QXO) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 29,950 shares of the company’s stock, valued at approximately $645,000.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in QXO by 146.1% during the first quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company’s stock worth $334,539,000 after acquiring an additional 14,667,571 shares during the last quarter. Blue Investment Opportunities LLC Project Breeze Series 1 acquired a new position in shares of QXO in the first quarter valued at approximately $118,142,000. Bank of New York Mellon Corp increased its stake in shares of QXO by 617.7% during the second quarter. Bank of New York Mellon Corp now owns 3,277,975 shares of the company’s stock worth $70,608,000 after purchasing an additional 2,821,241 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of QXO by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,885,908 shares of the company’s stock worth $25,535,000 after purchasing an additional 8,322 shares during the period. Finally, Catawba River Capital lifted its holdings in QXO by 127.8% during the 2nd quarter. Catawba River Capital now owns 1,116,119 shares of the company’s stock worth $24,041,000 after purchasing an additional 626,067 shares during the last quarter. 58.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of QXO in a research note on Wednesday, October 8th. Royal Bank Of Canada assumed coverage on QXO in a report on Monday, July 21st. They set an “outperform” rating and a $33.00 target price for the company. Benchmark upgraded shares of QXO to a “strong-buy” rating in a research note on Monday, August 25th. Morgan Stanley assumed coverage on shares of QXO in a research report on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 price target on the stock. Finally, Truist Financial cut their price objective on shares of QXO from $30.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, QXO currently has a consensus rating of “Moderate Buy” and an average target price of $32.85.

QXO Stock Up 6.2%

QXO stock opened at $17.15 on Friday. QXO, Inc. has a 52 week low of $11.85 and a 52 week high of $24.69. The business has a 50-day simple moving average of $19.41 and a 200 day simple moving average of $19.11. The company has a quick ratio of 2.15, a current ratio of 3.00 and a debt-to-equity ratio of 0.38. The company has a market cap of $11.55 billion, a PE ratio of -81.64, a price-to-earnings-growth ratio of 2.58 and a beta of 2.26.

QXO (NYSE:QXO) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.78 billion. The firm’s revenue was up 20726.7% compared to the same quarter last year. Sell-side analysts anticipate 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.