Appleton Partners Inc. MA Purchases 35,354 Shares of QXO, Inc. $QXO

Appleton Partners Inc. MA grew its stake in shares of QXO, Inc. (NYSE:QXO) by 5.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 649,265 shares of the company’s stock after acquiring an additional 35,354 shares during the quarter. Appleton Partners Inc. MA’s holdings in QXO were worth $12,609,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of QXO. Finepoint Capital LP lifted its holdings in shares of QXO by 5.4% in the 3rd quarter. Finepoint Capital LP now owns 22,295,615 shares of the company’s stock valued at $424,954,000 after buying an additional 1,142,747 shares during the period. Fred Alger Management LLC grew its stake in shares of QXO by 75.4% during the 4th quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock worth $307,173,000 after purchasing an additional 6,844,574 shares during the period. Baillie Gifford & Co. increased its holdings 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 valued at $284,241,000 after purchasing an additional 14,644,305 shares in the last quarter. Schf GPE LLC increased its holdings in shares of QXO by 204.3% during the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after purchasing an additional 8,943,089 shares in the last quarter. Finally, MTCO Ltd. acquired a new position in shares of QXO in the 3rd quarter valued at $208,534,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on QXO. KeyCorp decreased their price objective on shares of QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Citigroup reduced their price target on shares of QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Stephens decreased their price target on shares of QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. BNP Paribas Exane began coverage on QXO in a report on Monday, March 16th. They issued an “outperform” rating and a $30.00 price objective on the stock. Finally, Robert W. Baird cut their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Fifteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.86.

QXO Stock Performance

Shares of QXO stock opened at $16.23 on Monday. QXO, Inc. has a 52 week low of $14.75 and a 52 week high of $27.61. The business’s fifty day simple moving average is $17.45 and its 200-day simple moving average is $20.69. The firm has a market cap of $11.77 billion, a PE ratio of -17.84, a price-to-earnings-growth ratio of 4.16 and a beta of 2.23. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35.

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

QXO Company 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.