QXO (NYSE:QXO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of QXO (NYSE:QXO – Free Report) from a strong sell rating to a sell rating in a report published on Saturday.

A number of other brokerages have also commented on QXO. Royal Bank Of Canada reiterated an “outperform” rating and set a $27.00 price target on shares of QXO in a report on Friday, July 10th. Weiss Ratings restated a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. KeyCorp decreased their target price on QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Oppenheimer raised their target price on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Finally, Stephens lowered their target price on QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, QXO currently has an average rating of “Moderate Buy” and a consensus target price of $30.57.

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View Our Latest Analysis on QXO

QXO Trading Up 3.3%

NYSE:QXO opened at $14.12 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. The firm has a market cap of $10.24 billion, a price-to-earnings ratio of -15.52, a price-to-earnings-growth ratio of 3.51 and a beta of 2.23. QXO has a 52 week low of $13.32 and a 52 week high of $27.61. The firm has a 50-day moving average price of $16.04 and a two-hundred day moving average price of $19.92.

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 the consensus estimate of ($0.09) by ($0.03). The firm had revenue of $1.73 billion for 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%.QXO’s quarterly revenue was up 12716.3% on a year-over-year basis. On average, equities analysts expect that QXO will post 0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QXO

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in QXO by 67.5% during the first quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock valued at $1,620,000 after purchasing an additional 48,248 shares during the period. AQR Capital Management LLC bought a new stake in shares of QXO in the first quarter valued at $615,000. Millennium Management LLC raised its stake in shares of QXO by 6.6% in the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock valued at $4,361,000 after buying an additional 20,067 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of QXO by 13.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock valued at $9,449,000 after buying an additional 81,758 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of QXO during the 2nd quarter valued at $837,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

About QXO

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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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