World Investment Advisors bought a new position in QXO, Inc. (NYSE:QXO – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 32,693 shares of the company’s stock, valued at approximately $631,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. increased its stake in shares of QXO by 16,117.6% in the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after buying an additional 14,644,305 shares during the period. MTCO Ltd. acquired a new stake in QXO during the third quarter worth approximately $208,534,000. Fred Alger Management LLC acquired a new stake in QXO during the third quarter worth approximately $173,053,000. Schf GPE LLC boosted its holdings in QXO by 204.3% in the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after acquiring an additional 8,943,089 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings 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. Institutional investors and hedge funds own 58.68% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on QXO. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a report on Sunday. Robert W. Baird decreased their price target on QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Zacks Research downgraded QXO from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. KeyCorp raised their target price on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Finally, BNP Paribas Exane assumed coverage on QXO in a research report on Monday, March 16th. They issued an “outperform” rating and a $30.00 price target for the company. Sixteen equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, QXO currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.
QXO Trading Down 4.7%
Shares of QXO stock opened at $15.91 on Wednesday. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $20.10 and a two-hundred day moving average price of $21.10. QXO, Inc. has a 12-month low of $15.50 and a 12-month high of $27.61. The firm has a market cap of $11.54 billion, a P/E ratio of -17.48, a price-to-earnings-growth ratio of 4.28 and a beta of 2.40.
QXO (NYSE:QXO – Get Free Report) last issued 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 the consensus estimate of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The firm’s quarterly revenue was up 12716.3% compared to the same quarter last year. Equities analysts anticipate that QXO, Inc. will post 0.2 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. 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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