Atika Capital Management LLC Has $5.13 Million Stock Position in QXO, Inc. $QXO

Atika Capital Management LLC lowered its position in QXO, Inc. (NYSE:QXO) by 37.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 264,253 shares of the company’s stock after selling 155,747 shares during the quarter. Atika Capital Management LLC’s holdings in QXO were worth $5,132,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of QXO. Carnegie Investment Counsel raised its position in QXO by 38.6% in the first quarter. Carnegie Investment Counsel now owns 309,644 shares of the company’s stock valued at $6,013,000 after purchasing an additional 86,265 shares during the period. CI Investments Inc. grew its holdings in shares of QXO by 4.1% during the 1st quarter. CI Investments Inc. now owns 2,598,840 shares of the company’s stock worth $50,469,000 after purchasing an additional 102,838 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of QXO by 748.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock worth $16,928,000 after purchasing an additional 774,138 shares during the last quarter. Baillie Gifford & Co. lifted its position in QXO by 16,117.6% in the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after buying an additional 14,644,305 shares during the last quarter. Finally, JNBA Financial Advisors purchased a new position in QXO during the fourth quarter worth about $992,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on QXO shares. Robert W. Baird dropped their price target 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. Oppenheimer increased their price objective on shares of QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Zacks Research downgraded shares of QXO from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Weiss Ratings restated a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. Finally, Citigroup lowered their price target on QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.57.

QXO Trading Down 0.1%

NYSE QXO opened at $13.84 on Friday. 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 has a market cap of $10.03 billion, a price-to-earnings ratio of -15.20, a PEG ratio of 3.55 and a beta of 2.23. The firm has a 50 day simple moving average of $16.14 and a 200-day simple moving average of $20.06. QXO, Inc. has a one year low of $13.37 and a one year high of $27.61.

QXO (NYSE:QXO) last announced its 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 positive return on equity of 1.91% and a negative net margin of 6.02%.The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. The firm’s quarterly revenue was up 12716.3% on a year-over-year basis. Equities research analysts anticipate that QXO, Inc. will post 0.2 EPS 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.