QXO (NYSE:QXO) Cut to Strong Sell at Zacks Research

QXO (NYSE:QXO) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Oppenheimer lifted their price target on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, April 27th. KeyCorp dropped 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. BNP Paribas Exane assumed coverage on QXO in a research report on Monday, March 16th. They issued an “outperform” rating and a $30.00 target price on the stock. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Finally, Robert W. Baird lowered their price target on QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.79.

QXO Trading Up 3.0%

Shares of QXO stock opened at $15.02 on Thursday. The firm’s 50-day simple moving average is $16.91 and its 200-day simple moving average is $20.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. QXO has a 1-year low of $13.82 and a 1-year high of $27.61. The firm has a market cap of $10.89 billion, a P/E ratio of -16.50, a PEG ratio of 3.74 and a beta of 2.23.

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

Institutional Investors Weigh In On QXO

Several institutional investors have recently bought and sold shares of QXO. Arax Advisory Partners purchased a new position in shares of QXO in the 4th quarter valued at $25,000. LRI Investments LLC lifted its holdings in shares of QXO by 129.1% during the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after acquiring an additional 835 shares in the last quarter. Root Financial Partners LLC boosted its position in QXO by 73,350.0% during the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after purchasing an additional 1,467 shares during the period. Newbridge Financial Services Group Inc. boosted its position in QXO by 57.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after purchasing an additional 575 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in QXO in the 2nd quarter valued at $30,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

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.