QXO, Inc. (NYSE:QXO) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of QXO, Inc. (NYSE:QXO) have been assigned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and fifteen have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $31.1429.

Several brokerages recently weighed in on QXO. Robert W. Baird cut their price objective on shares of QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Stephens decreased their target price on shares of QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Citigroup dropped their price target on shares of QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Finally, Oppenheimer increased their price objective on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 27th.

QXO Price Performance

Shares of QXO opened at $16.67 on Tuesday. QXO has a 12 month low of $14.75 and a 12 month high of $27.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. The stock has a fifty day moving average price of $18.80 and a 200 day moving average price of $21.01. The company has a market cap of $12.09 billion, a P/E ratio of -18.31, a PEG ratio of 4.26 and a beta of 2.30.

QXO (NYSE:QXO) last posted its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. The company’s revenue for the quarter was up 12716.3% compared to the same quarter last year. On average, research analysts forecast that QXO will post 0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. increased its holdings in shares of QXO by 6.8% during the fourth quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company’s stock valued at $122,000 after purchasing an additional 400 shares during the period. Cherry Creek Investment Advisors Inc. grew its position in QXO by 0.6% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company’s stock valued at $1,633,000 after buying an additional 474 shares in the last quarter. NewEdge Advisors LLC increased its stake in QXO by 42.4% during the 4th quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock valued at $32,000 after buying an additional 500 shares during the period. Maple Capital Management Inc. increased its stake in QXO by 4.7% during the 4th quarter. Maple Capital Management Inc. now owns 11,988 shares of the company’s stock valued at $231,000 after buying an additional 543 shares during the period. Finally, Allworth Financial LP raised its position in shares of QXO by 27.2% during the 4th quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock worth $50,000 after buying an additional 552 shares in the last quarter. Institutional investors own 58.68% of the company’s stock.

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.