QXO, Inc. (NYSE:QXO – Get Free Report) was down 4.9% during trading on Wednesday . The stock traded as low as $15.00 and last traded at $14.7840. Approximately 1,615,846 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 15,211,265 shares. The stock had previously closed at $15.55.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on QXO. Stephens lowered their target price on shares of QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. KeyCorp cut their price target on shares of QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Royal Bank Of Canada restated an “outperform” rating and set a $27.00 price objective on shares of QXO in a research note on Friday, July 10th. Finally, Robert W. Baird dropped their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.71.
Get Our Latest Stock Report on QXO
QXO Price Performance
QXO (NYSE:QXO – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. As a group, research analysts predict that QXO, Inc. will post 0.3 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of QXO. Fred Alger Management LLC lifted its position in QXO by 75.4% during the fourth quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock worth $307,173,000 after acquiring an additional 6,844,574 shares during the last quarter. Schf GPE LLC increased its stake in shares of QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after purchasing an additional 8,943,089 shares during the period. Cercano Management LLC increased its stake in shares of QXO by 2.4% during the fourth quarter. Cercano Management LLC now owns 10,815,832 shares of the company’s stock worth $208,637,000 after purchasing an additional 255,366 shares during the period. Consulta Ltd lifted its holdings in QXO by 33.3% during the 4th quarter. Consulta Ltd now owns 10,000,000 shares of the company’s stock worth $192,900,000 after purchasing an additional 2,500,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in QXO by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 8,777,960 shares of the company’s stock worth $169,359,000 after purchasing an additional 61,120 shares during the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.
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.
Read More
- Five stocks we like better than QXO
- Why Are Analysts Freaking Out About Apple’s All-Glass iPhone?
- Asian Market Circuit Breakers Hit Stocks, Not AI Demand
- Riot Platforms Re-Wires the Ledger for a $9B AI Power Play
- Nebius Just Exploded 34% on Blowout Earnings—Is It Time to Buy?
Receive News & Ratings for QXO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QXO and related companies with MarketBeat.com's FREE daily email newsletter.
