QXO (NYSE:QXO – Get Free Report) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.
A number of other research firms have also weighed in on QXO. Robert W. Baird dropped their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of QXO from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Royal Bank Of Canada dropped their target price on shares of QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Benchmark reiterated a “buy” rating on shares of QXO in a report on Friday, February 20th. Finally, Citigroup dropped their target price on shares of QXO from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, May 15th. Fifteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.14.
Check Out Our Latest Stock Report on QXO
QXO Stock Performance
QXO (NYSE:QXO – Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The company’s quarterly revenue was up 12716.3% compared to the same quarter last year. Sell-side analysts expect that QXO will post 0.2 EPS for the current year.
Institutional Investors Weigh In On QXO
Several hedge funds have recently made changes to their positions in QXO. Baillie Gifford & Co. boosted its position in shares of QXO by 16,117.6% during the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after purchasing an additional 14,644,305 shares in the last quarter. MTCO Ltd. purchased a new stake in shares of QXO in the 3rd quarter worth about $208,534,000. Fred Alger Management LLC purchased a new stake in shares of QXO in the 3rd quarter worth about $173,053,000. Schf GPE LLC grew its position in shares of QXO by 204.3% in the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after buying an additional 8,943,089 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of QXO by 17.2% in the 3rd quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after buying an additional 8,131,331 shares during the period. 58.68% of the stock is currently owned by institutional investors.
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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