QXO, Inc. (NYSE:QXO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of QXO, Inc. (NYSE:QXO – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, fourteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $28.00.

Several research analysts recently issued reports on the company. Benchmark reaffirmed a “buy” rating on shares of QXO in a research report on Friday, August 14th. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research report on Wednesday. KeyCorp dropped their price objective on QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Wells Fargo & Company set a $18.00 price objective on shares of QXO in a report on Tuesday, July 28th. Finally, Morgan Stanley initiated coverage on shares of QXO in a report on Tuesday, August 4th. They issued an “overweight” rating and a $35.00 target price for the company.

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QXO Price Performance

Shares of NYSE QXO opened at $13.58 on Monday. QXO has a fifty-two week low of $13.15 and a fifty-two week high of $27.61. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of -15.09, a PEG ratio of 2.33 and a beta of 2.28. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.29 and a current ratio of 4.11. The firm’s 50-day simple moving average is $14.91 and its 200 day simple moving average is $18.35.

QXO (NYSE:QXO – Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. As a group, research analysts anticipate that QXO will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QXO

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

QXO Company Profile

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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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