Braun Stacey Associates Inc. Grows Stock Position in QXO, Inc. $QXO

Braun Stacey Associates Inc. boosted its holdings in QXO, Inc. (NYSE:QXO) by 2.7% during the fourth quarter, HoldingsChannel reports. The fund owned 1,298,850 shares of the company’s stock after buying an additional 33,565 shares during the period. Braun Stacey Associates Inc.’s holdings in QXO were worth $25,055,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC acquired a new stake in QXO during the third quarter worth $25,000. Russell Investments Group Ltd. acquired a new position in shares of QXO in the 2nd quarter valued at $30,000. GAMMA Investing LLC purchased a new position in shares of QXO during the 3rd quarter worth $31,000. WPG Advisers LLC acquired a new stake in shares of QXO during the 3rd quarter worth about $35,000. Finally, Allworth Financial LP increased its position in shares of QXO by 66.9% during the 3rd quarter. Allworth Financial LP now owns 2,028 shares of the company’s stock worth $39,000 after purchasing an additional 813 shares during the last quarter. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Stock Performance

Shares of QXO stock opened at $19.00 on Friday. The company has a market cap of $13.49 billion, a P/E ratio of -32.20, a PEG ratio of 3.04 and a beta of 2.50. The firm has a fifty day moving average price of $22.41 and a 200 day moving average price of $20.89. The company has a current ratio of 3.58, a quick ratio of 2.61 and a debt-to-equity ratio of 0.37. QXO, Inc. has a 12 month low of $11.97 and a 12 month high of $27.61.

QXO (NYSE:QXO) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.QXO’s quarterly revenue was up 14725.0% compared to the same quarter last year. Sell-side analysts predict that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Truist Financial decreased their target price on shares of QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. Citigroup dropped their price target on shares of QXO from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. BNP Paribas Exane began coverage on shares of QXO in a research note on Monday, March 16th. They issued an “outperform” rating and a $30.00 price target on the stock. Loop Capital began coverage on shares of QXO in a report on Thursday, December 11th. They issued a “buy” rating and a $31.00 price objective on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of QXO in a research report on Wednesday, December 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.27.

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.