QXO, Inc. (NYSE:QXO – Get Free Report) shares hit a new 52-week low on Friday . The company traded as low as $15.45 and last traded at $15.5250, with a volume of 13132600 shares changing hands. The stock had previously closed at $16.23.
Analysts Set New Price Targets
QXO has been the topic of a number of analyst reports. Stephens reduced their price objective 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 increased their target price on shares of QXO from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Zacks Research downgraded shares of QXO from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. BNP Paribas Exane started coverage on shares of QXO in a research report on Monday, March 16th. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Fifteen research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.14.
Get Our Latest Stock Analysis on QXO
QXO Price Performance
QXO (NYSE:QXO – Get Free Report) last posted its 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 company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The firm’s revenue for the quarter was up 12716.3% on a year-over-year basis. As a group, equities analysts expect that QXO, Inc. will post 0.2 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of QXO. Baillie Gifford & Co. grew its position in QXO by 16,117.6% during the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after purchasing an additional 14,644,305 shares during the last quarter. MTCO Ltd. purchased a new position in QXO during the 3rd quarter worth $208,534,000. Fred Alger Management LLC purchased a new position in QXO during the 3rd quarter worth $173,053,000. Schf GPE LLC grew its position in QXO by 204.3% during the 2nd 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 last quarter. Finally, Vanguard Group Inc. grew its position in QXO by 17.2% during the 3rd quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after purchasing an additional 8,131,331 shares during the last quarter. 58.68% of the stock is owned by hedge funds and other 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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