QXO, Inc. (NYSE:QXO – Get Free Report) has been given a consensus rating of “Moderate Buy” by the seventeen research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $29.7143.
QXO has been the topic of several research reports. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. Citigroup decreased their price objective on QXO from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Wells Fargo & Company set a $18.00 target price on QXO in a research note on Tuesday, July 28th. Robert W. Baird reduced their target price on QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Finally, KeyCorp decreased their price target on shares of QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st.
Check Out Our Latest Stock Analysis on QXO
QXO Stock Performance
QXO (NYSE:QXO – Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. The company’s revenue was up 12716.3% compared to the same quarter last year. Equities research analysts anticipate that QXO will post 0.33 earnings per share for the current year.
Hedge Funds Weigh In On QXO
Hedge funds and other institutional investors have recently made changes to their positions in the business. Arax Advisory Partners acquired a new position in QXO in the fourth quarter worth about $25,000. LRI Investments LLC boosted its holdings in QXO by 129.1% during the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after purchasing an additional 835 shares in the last quarter. Root Financial Partners LLC boosted its holdings in QXO by 73,350.0% during the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock valued at $29,000 after purchasing an additional 1,467 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in shares of QXO by 57.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after purchasing an additional 575 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in shares of QXO in the 2nd quarter valued at approximately $30,000. 58.68% of the stock is 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.
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