Shares of QXO, Inc. (NYSE:QXO – Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $13.15 and last traded at $13.34, with a volume of 18190912 shares trading hands. The stock had previously closed at $14.11.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of QXO in a report on Tuesday, August 4th. They set an “overweight” rating and a $35.00 target price on the stock. KeyCorp cut their price objective on QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 1st. Robert W. Baird reduced their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $27.00 target price on shares of QXO in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, QXO has a consensus rating of “Moderate Buy” and a consensus price target of $29.71.
QXO Stock Down 5.5%
QXO (NYSE:QXO – Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. As a group, research analysts forecast that QXO, Inc. will post 0.29 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Arax Advisory Partners purchased a new stake in QXO during the 4th quarter worth approximately $25,000. LRI Investments LLC boosted its stake in shares of QXO by 129.1% during the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after buying an additional 835 shares during the last quarter. Root Financial Partners LLC boosted its stake in shares of QXO by 73,350.0% during the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock valued at $29,000 after buying an additional 1,467 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of QXO during the second quarter worth approximately $30,000. Finally, NewEdge Advisors LLC grew its position in shares of QXO by 42.4% during the fourth quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock worth $32,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than QXO
- 3 Energy Stocks Raising Dividends as the Sector Surges
- 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
- Walmart’s Post-Earnings Drop Could Be a Buying Opportunity
- The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
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.
