HighTower Advisors LLC Has $8.33 Million Stake in QXO, Inc. $QXO

HighTower Advisors LLC trimmed its stake in QXO, Inc. (NYSE:QXO) by 59.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 431,857 shares of the company’s stock after selling 636,713 shares during the period. HighTower Advisors LLC owned about 0.06% of QXO worth $8,331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. LRI Investments LLC increased its holdings in QXO by 129.1% in the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after purchasing an additional 835 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in QXO by 57.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after purchasing an additional 575 shares during the period. Russell Investments Group Ltd. acquired a new stake in QXO in the second quarter valued at $30,000. Allworth Financial LP increased its holdings in QXO by 66.9% in the third quarter. Allworth Financial LP now owns 2,028 shares of the company’s stock valued at $39,000 after purchasing an additional 813 shares during the period. Finally, Sentry Investment Management LLC acquired a new stake in QXO in the third quarter valued at $40,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Robert W. Baird decreased their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Benchmark restated a “buy” rating on shares of QXO in a report on Friday, February 20th. Oppenheimer upped their price target on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada cut their price target on shares of QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. Sixteen equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

QXO Price Performance

Shares of NYSE QXO opened at $17.21 on Wednesday. QXO, Inc. has a fifty-two week low of $15.50 and a fifty-two week high of $27.61. The stock has a market cap of $12.48 billion, a price-to-earnings ratio of -18.91, a PEG ratio of 4.27 and a beta of 2.40. 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’s 50-day simple moving average is $19.71 and its 200 day simple moving average is $21.09.

QXO (NYSE:QXO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. The firm’s revenue for the quarter was up 12716.3% on a year-over-year basis. As a group, research analysts anticipate that QXO, Inc. will post 0.2 earnings per share for the current fiscal year.

QXO 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. 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.