QXO (NYSE:QXO – Get Free Report) had its price objective lowered by research analysts at Stephens from $29.00 to $26.00 in a research note issued on Thursday, MarketBeat.com reports. The firm presently has an “overweight” rating on the stock. Stephens’ target price would indicate a potential upside of 59.17% from the company’s current price.
Several other research analysts have also recently issued reports on QXO. Robert W. Baird cut their price target on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday. Oppenheimer increased their price target on shares of QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Royal Bank Of Canada cut their price target on shares of QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, April 6th. KeyCorp increased their price target on shares of QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Finally, Wall Street Zen cut shares of QXO from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Sixteen equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.00.
Get Our Latest Stock Analysis on QXO
QXO Trading Down 6.3%
QXO (NYSE:QXO – Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.QXO’s quarterly revenue was up 12716.3% compared to the same quarter last year. Equities research analysts expect that QXO will post 0.26 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. increased its holdings in QXO by 6.8% in the fourth quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company’s stock valued at $122,000 after buying an additional 400 shares in the last quarter. Cherry Creek Investment Advisors Inc. increased its holdings 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 buying an additional 474 shares in the last quarter. NewEdge Advisors LLC increased its holdings 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 buying an additional 500 shares in the last quarter. Maple Capital Management Inc. increased its holdings 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 buying an additional 543 shares in the last quarter. Finally, Allworth Financial LP increased its holdings 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 buying an additional 552 shares in the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.
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. 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.
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