Carmel Capital Partners LLC Takes Position in QXO, Inc. $QXO

Carmel Capital Partners LLC bought a new position in shares of QXO, Inc. (NYSE:QXO) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 46,360 shares of the company’s stock, valued at approximately $884,000.

A number of other large investors have also added to or reduced their stakes in QXO. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in QXO by 240.9% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 87,521 shares of the company’s stock worth $1,668,000 after purchasing an additional 61,846 shares during the period. Triasima Portfolio Management inc. acquired a new stake in shares of QXO during the 3rd quarter worth about $439,000. Parsons Capital Management Inc. RI boosted its holdings in shares of QXO by 83.1% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 23,282 shares of the company’s stock worth $444,000 after buying an additional 10,567 shares during the period. Arkadios Wealth Advisors grew its stake in QXO by 112.1% in the 3rd quarter. Arkadios Wealth Advisors now owns 41,903 shares of the company’s stock valued at $799,000 after buying an additional 22,148 shares during the last quarter. Finally, Nordwand Advisors LLC bought a new position in QXO in the 3rd quarter valued at about $5,542,000. Institutional investors own 58.68% of the company’s stock.

Wall Street Analysts Forecast Growth

QXO has been the subject of a number of research analyst reports. Oppenheimer boosted their price objective on QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Vertical Research started coverage on QXO in a research note on Tuesday, October 21st. They issued a “buy” rating and a $30.00 price target for the company. Truist Financial decreased their price objective on QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, December 19th. Loop Capital started coverage on QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 target price for the company. Finally, Benchmark reissued a “buy” rating on shares of QXO in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.43.

QXO Price Performance

Shares of NYSE QXO opened at $24.17 on Friday. The business has a fifty day moving average price of $21.04 and a two-hundred day moving average price of $20.32. The stock has a market capitalization of $16.30 billion, a PE ratio of -54.93, a P/E/G ratio of 2.89 and a beta of 2.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.06 and a quick ratio of 2.24. QXO, Inc. has a fifty-two week low of $11.85 and a fifty-two week high of $26.24.

QXO (NYSE:QXO) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.78 billion. The company’s quarterly revenue was up 20726.7% compared to the same quarter last year. As a group, equities analysts predict that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

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.