Baader Bank Aktiengesellschaft Acquires 100,000 Shares of QXO, Inc. $QXO

Baader Bank Aktiengesellschaft boosted its holdings in QXO, Inc. (NYSE:QXO) by 43.5% during the 1st quarter, Holdings Channel reports. The firm owned 330,000 shares of the company’s stock after acquiring an additional 100,000 shares during the period. Baader Bank Aktiengesellschaft’s holdings in QXO were worth $6,409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Baillie Gifford & Co. raised its stake in shares of QXO by 16,117.6% during the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after purchasing an additional 14,644,305 shares during the period. Schf GPE LLC increased its holdings in QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after buying an additional 8,943,089 shares during the last quarter. Norges Bank bought a new stake in QXO in the fourth quarter worth about $140,421,000. Fred Alger Management LLC raised its position in QXO by 75.4% in the fourth quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock worth $307,173,000 after acquiring an additional 6,844,574 shares during the period. Finally, Sound Shore Management Inc. CT purchased a new position in QXO in the fourth quarter valued at about $77,199,000. Institutional investors own 58.68% of the company’s stock.

QXO Price Performance

NYSE QXO opened at $13.52 on Tuesday. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. The company has a market cap of $9.80 billion, a PE ratio of -14.85, a price-to-earnings-growth ratio of 3.69 and a beta of 2.23. QXO, Inc. has a 52 week low of $13.48 and a 52 week high of $27.61. The firm’s 50-day simple moving average is $16.36 and its two-hundred day simple moving average is $20.17.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on QXO. Robert W. Baird reduced their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $27.00 price objective on shares of QXO in a research note on Friday, July 10th. KeyCorp reduced their price objective on QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Finally, Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, QXO currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.57.

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.