QXO, Inc. (NYSE:QXO – Get Free Report) has earned an average rating of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and fifteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $30.5714.
QXO has been the topic of a number of recent research reports. Oppenheimer increased their target price on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Zacks Research downgraded shares of QXO from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. KeyCorp decreased their price target on shares of QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Robert W. Baird lowered their price objective on shares of QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, Citigroup dropped their price objective on shares of QXO from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, July 13th.
Get Our Latest Stock Analysis on QXO
QXO Stock Down 6.4%
QXO (NYSE:QXO – Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. QXO’s revenue was up 12716.3% compared to the same quarter last year. On average, research analysts expect that QXO will post 0.2 earnings per share for the current fiscal year.
Hedge Funds Weigh In On QXO
Large investors have recently added to or reduced their stakes in the business. Carnegie Investment Counsel raised its position in QXO by 38.6% in the first quarter. Carnegie Investment Counsel now owns 309,644 shares of the company’s stock worth $6,013,000 after acquiring an additional 86,265 shares during the period. Fred Alger Management LLC bought a new position in shares of QXO during the 3rd quarter valued at approximately $173,053,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of QXO by 748.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock valued at $16,928,000 after acquiring an additional 774,138 shares during the period. Baillie Gifford & Co. increased its stake in shares of 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. Finally, JNBA Financial Advisors purchased a new stake in shares of QXO during the 4th quarter worth approximately $992,000. Institutional investors own 58.68% of the company’s stock.
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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