Zacks Research lowered shares of QXO (NYSE:QXO – Free Report) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday,Zacks.com reports.
A number of other research analysts have also commented on QXO. Oppenheimer upped their price target on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Citigroup lowered their price target on QXO from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Wall Street Zen lowered QXO from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. BNP Paribas Exane assumed coverage on QXO in a research report on Monday, March 16th. They set an “outperform” rating and a $30.00 price target for the company. Finally, KeyCorp upped their price target on QXO from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Sixteen investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, QXO presently has an average rating of “Moderate Buy” and an average target price of $32.33.
Get Our Latest Stock Report on QXO
QXO Trading Down 3.9%
QXO (NYSE:QXO – Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.93%. The firm’s revenue for the quarter was up 12716.3% on a year-over-year basis. Analysts predict that QXO will post 0.36 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Intact Investment Management Inc. bought a new position in shares of QXO in the 3rd quarter worth approximately $982,000. Campbell & CO Investment Adviser LLC bought a new position in shares of QXO in the 3rd quarter worth approximately $1,006,000. Fishman Jay A Ltd. MI bought a new position in shares of QXO in the 3rd quarter worth approximately $10,444,000. Fred Alger Management LLC bought a new position in shares of QXO in the 3rd quarter worth approximately $173,053,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of QXO by 748.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock worth $16,928,000 after acquiring an additional 774,138 shares in the last quarter. 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. 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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