QXO (NASDAQ:QXO) Upgraded at Baird R W

Baird R W upgraded shares of QXO (NASDAQ:QXO) to a strong-buy rating in a report released on Thursday,Zacks.com reports.

Several other equities analysts also recently issued reports on the stock. Oppenheimer started coverage on shares of QXO in a report on Wednesday. They set an “outperform” rating and a $27.00 price objective on the stock. Robert W. Baird assumed coverage on shares of QXO in a research report on Thursday. They set an “outperform” rating and a $32.00 price target for the company. Finally, Wolfe Research assumed coverage on shares of QXO in a research note on Friday, June 6th. They issued an “outperform” rating and a $44.00 price target on the stock.

QXO Price Performance

Shares of NASDAQ:QXO opened at $19.58 on Thursday. The business’s 50 day moving average price is $15.43 and its 200-day moving average price is $14.72. QXO has a 1 year low of $10.61 and a 1 year high of $157.28. The firm has a market capitalization of $11.32 billion, a price-to-earnings ratio of -2.15, a price-to-earnings-growth ratio of 4.09 and a beta of 2.38.

Institutional Investors Weigh In On QXO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advyzon Investment Management LLC acquired a new stake in shares of QXO in the fourth quarter valued at about $527,000. Blair William & Co. IL purchased a new position in QXO in the 4th quarter worth approximately $229,000. Barclays PLC acquired a new position in shares of QXO during the 4th quarter worth approximately $1,168,000. Pittenger & Anderson Inc. grew its position in shares of QXO by 4,376.7% in the fourth quarter. Pittenger & Anderson Inc. now owns 20,145 shares of the company’s stock valued at $320,000 after purchasing an additional 19,695 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of QXO in the fourth quarter valued at approximately $2,099,000. Institutional investors and hedge funds 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.