Creative Planning Invests $609,000 in QXO, Inc. $QXO

Creative Planning bought a new stake in QXO, Inc. (NYSE:QXO) during the second quarter, HoldingsChannel.com reports. The fund bought 28,276 shares of the company’s stock, valued at approximately $609,000.

Several other hedge funds have also recently added to or reduced their stakes in QXO. Farther Finance Advisors LLC bought a new position in QXO during the second quarter worth about $25,000. American Capital Advisory LLC raised its holdings in shares of QXO by 258.0% in the 2nd quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after buying an additional 841 shares in the last quarter. Allworth Financial LP raised its holdings in shares of QXO by 1,740.9% in the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock worth $26,000 after buying an additional 1,149 shares in the last quarter. CWM LLC bought a new position in shares of QXO during the 1st quarter worth approximately $27,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in QXO in the 2nd quarter valued at $28,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

Analysts Set New Price Targets

QXO has been the subject of several recent analyst reports. Stephens began coverage on QXO in a research note on Wednesday, August 13th. They set an “overweight” rating and a $29.00 price objective for the company. Raymond James Financial initiated coverage on shares of QXO in a research report on Friday, September 5th. They set an “outperform” rating and a $28.00 target price for the company. Morgan Stanley initiated coverage on shares of QXO in a report on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 price target for the company. KeyCorp set a $28.00 price target on shares of QXO in a research report on Wednesday, October 1st. Finally, Truist Financial dropped their price objective on shares of QXO from $30.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.85.

QXO Trading Up 3.4%

Shares of NYSE QXO opened at $19.98 on Thursday. QXO, Inc. has a 1-year low of $11.85 and a 1-year high of $24.69. The company has a 50-day moving average of $18.34 and a two-hundred day moving average of $19.64. The company has a market cap of $13.48 billion, a PE ratio of -45.42, a P/E/G ratio of 2.79 and a beta of 2.42. The company has a current ratio of 3.06, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37.

QXO (NYSE:QXO) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.78 billion. The company’s quarterly revenue was up 20726.7% on a year-over-year basis. As a group, equities analysts expect that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

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.