Global Retirement Partners LLC Takes $383,000 Position in QXO, Inc. $QXO

Global Retirement Partners LLC acquired a new position in QXO, Inc. (NYSE:QXO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,776 shares of the company’s stock, valued at approximately $383,000.

Several other institutional investors also recently bought and sold shares of QXO. CWM LLC purchased a new stake in shares of QXO in the 1st quarter worth $27,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of QXO during the first quarter valued at $248,000. Cetera Investment Advisers raised its holdings in shares of QXO by 11.6% in the first quarter. Cetera Investment Advisers now owns 41,951 shares of the company’s stock valued at $568,000 after acquiring an additional 4,349 shares in the last quarter. LPL Financial LLC lifted its stake in QXO by 385.1% in the first quarter. LPL Financial LLC now owns 175,596 shares of the company’s stock worth $2,378,000 after acquiring an additional 139,397 shares during the period. Finally, Arkadios Wealth Advisors purchased a new stake in QXO in the first quarter worth about $180,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. KeyCorp set a $28.00 price target on shares of QXO in a report on Wednesday, October 1st. Raymond James Financial began coverage on shares of QXO in a research note on Friday, September 5th. They issued an “outperform” rating and a $28.00 price objective for the company. Zacks Research lowered QXO from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Stephens began coverage on QXO in a research report on Wednesday, August 13th. They set an “overweight” rating and a $29.00 target price on the stock. Finally, Morgan Stanley assumed coverage on QXO in a research report on Tuesday, September 2nd. They issued an “overweight” rating and a $35.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.85.

QXO Stock Performance

Shares of QXO stock opened at $18.72 on Monday. The company has a market cap of $12.62 billion, a PE ratio of -89.14, a PEG ratio of 2.58 and a beta of 2.26. The company has a current ratio of 3.00, a quick ratio of 2.15 and a debt-to-equity ratio of 0.38. QXO, Inc. has a 12-month low of $11.85 and a 12-month high of $24.69. The business’s fifty day simple moving average is $18.36 and its 200-day simple moving average is $19.60.

QXO (NYSE:QXO) last posted its earnings results on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.78 billion. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. QXO’s quarterly revenue was up 20726.7% compared to the same quarter last year. Analysts expect that QXO, Inc. will post -0.13 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.