QXO (NASDAQ:QXO) Coverage Initiated at Royal Bank Of Canada

Royal Bank Of Canada initiated coverage on shares of QXO (NASDAQ:QXO) in a report issued on Monday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $33.00 price objective on the stock.

Other equities analysts also recently issued reports about the stock. Citigroup started coverage on shares of QXO in a research note on Wednesday, July 16th. They set a “buy” rating and a $33.00 price objective for the company. Oppenheimer started coverage on shares of QXO in a research note on Wednesday, June 11th. They set an “outperform” rating and a $27.00 price objective for the company. William Blair started coverage on shares of QXO in a research note on Wednesday, June 18th. They set an “outperform” rating for the company. Baird R W raised shares of QXO to a “strong-buy” rating in a research note on Thursday, June 12th. Finally, Truist Financial started coverage on shares of QXO in a research note on Tuesday, July 1st. They set a “buy” rating and a $30.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, QXO has a consensus rating of “Buy” and a consensus target price of $33.17.

QXO Stock Down 0.5%

QXO stock opened at $22.13 on Monday. The company has a market capitalization of $12.85 billion, a PE ratio of -2.43, a P/E/G ratio of 4.09 and a beta of 2.41. The firm has a fifty day simple moving average of $20.01 and a two-hundred day simple moving average of $15.81. QXO has a twelve month low of $10.61 and a twelve month high of $157.28.

Institutional Investors Weigh In On QXO

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new stake in QXO in the second quarter worth about $25,000. Larson Financial Group LLC purchased a new stake in QXO in the first quarter worth about $26,000. Ridgewood Investments LLC purchased a new stake in shares of QXO during the first quarter valued at approximately $27,000. CWM LLC purchased a new stake in shares of QXO during the first quarter valued at approximately $27,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of QXO by 57.4% during the first quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company’s stock valued at $38,000 after buying an additional 1,017 shares during the last quarter. Hedge funds and other institutional investors 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.