Brokerages Set QXO, Inc. (NYSE:QXO) PT at $32.57

QXO, Inc. (NYSE:QXO) has been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, fourteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $32.5714.

A number of research analysts have issued reports on QXO shares. Morgan Stanley assumed coverage on shares of QXO in a research report on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 target price on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a research note on Monday, December 22nd. Truist Financial reduced their price objective on shares of QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Vertical Research began coverage on shares of QXO in a research report on Tuesday, October 21st. They set a “buy” rating and a $30.00 target price for the company. Finally, Zacks Research downgraded QXO from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th.

Hedge Funds Weigh In On QXO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC bought a new stake in shares of QXO in the 2nd quarter valued at about $25,000. American Capital Advisory LLC grew its holdings in QXO by 258.0% during the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock valued at $25,000 after purchasing an additional 841 shares during the period. Bogart Wealth LLC bought a new stake in QXO in the third quarter valued at approximately $25,000. Allworth Financial LP raised its holdings in QXO by 1,740.9% in the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock worth $26,000 after purchasing an additional 1,149 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of QXO during the second quarter worth $28,000. Institutional investors own 58.68% of the company’s stock.

QXO Stock Down 0.7%

Shares of QXO opened at $21.09 on Tuesday. The business’s fifty day moving average price is $19.12 and its two-hundred day moving average price is $20.11. The firm has a market capitalization of $14.22 billion, a price-to-earnings ratio of -47.93, a PEG ratio of 3.25 and a beta of 2.42. QXO has a 52 week low of $11.85 and a 52 week high of $24.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06.

QXO (NYSE:QXO) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.78 billion. QXO had a positive return on equity of 3.70% and a negative net margin of 3.81%.The business’s revenue for the quarter was up 20726.7% compared to the same quarter last year. On average, analysts predict that QXO will post -0.13 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.