Sequoia Financial Advisors LLC purchased a new position in QXO, Inc. (NYSE:QXO – Free Report) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 82,924 shares of the company’s stock, valued at approximately $1,610,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. Arax Advisory Partners bought a new stake in shares of QXO during the fourth quarter valued at approximately $25,000. LRI Investments LLC boosted its position in shares of QXO by 129.1% during the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after acquiring an additional 835 shares during the last quarter. Root Financial Partners LLC boosted its position in shares of QXO by 73,350.0% during the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after acquiring an additional 1,467 shares during the last quarter. Newbridge Financial Services Group Inc. grew its stake in QXO by 57.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after acquiring an additional 575 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in QXO in the 2nd quarter valued at $30,000. 58.68% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
QXO has been the subject of several research reports. Oppenheimer increased their price objective on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. Robert W. Baird decreased their target price on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Royal Bank Of Canada reissued an “outperform” rating and set a $27.00 price target on shares of QXO in a research note on Friday, July 10th. Finally, KeyCorp cut their price target on QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.57.
QXO Price Performance
QXO stock opened at $15.32 on Thursday. QXO, Inc. has a 52 week low of $13.82 and a 52 week high of $27.61. The firm has a market capitalization of $11.11 billion, a P/E ratio of -16.84, a price-to-earnings-growth ratio of 3.71 and a beta of 2.23. The company has a fifty day simple moving average of $16.61 and a two-hundred day simple moving average of $20.32. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35.
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 business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The business’s revenue was up 12716.3% on a year-over-year basis. Analysts anticipate that QXO, Inc. will post 0.2 earnings per share for the current fiscal year.
QXO 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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