QXO (NASDAQ:QXO) Earns Outperform Rating from Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of QXO (NASDAQ:QXO) in a report published on Wednesday morning, MarketBeat reports. The firm issued an outperform rating and a $27.00 price objective on the stock.

Separately, Wolfe Research began coverage on QXO in a research report on Friday, June 6th. They set an “outperform” rating and a $44.00 target price on the stock.

QXO Stock Performance

Shares of QXO opened at $19.58 on Wednesday. The company has a 50 day moving average price of $15.43 and a 200-day moving average price of $14.73. QXO has a fifty-two week low of $10.61 and a fifty-two week high of $169.01. The stock has a market capitalization of $11.32 billion, a PE ratio of -2.15, a PEG ratio of 4.09 and a beta of 2.38.

Institutional Trading of QXO

Several hedge funds have recently modified their holdings of QXO. Affinity Partners GP LP bought a new position in shares of QXO during the 4th quarter worth approximately $260,941,000. Vanguard Group Inc. grew its holdings in QXO by 146.1% in the first quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company’s stock worth $334,539,000 after purchasing an additional 14,667,571 shares during the last quarter. Blue Investment Opportunities LLC Project Breeze Series 1 acquired a new position in shares of QXO during the first quarter worth $118,142,000. Federated Hermes Inc. purchased a new stake in shares of QXO during the 4th quarter valued at $50,532,000. Finally, JPMorgan Chase & Co. raised its stake in QXO by 523.9% in the fourth quarter. JPMorgan Chase & Co. now owns 877,902 shares of the company’s stock valued at $13,959,000 after buying an additional 737,192 shares during the last quarter. 58.68% of the stock is 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.