QXO, Inc. (NYSE:QXO) Receives $32.43 Consensus Target Price from Brokerages

QXO, Inc. (NYSE:QXO) has earned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $32.4286.

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada set a $30.00 target price on QXO in a research report on Friday, January 9th. Weiss Ratings restated a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. Vertical Research began coverage on shares of QXO in a research note on Tuesday, October 21st. They issued a “buy” rating and a $30.00 price objective for the company. William Blair reissued an “outperform” rating on shares of QXO in a research report on Wednesday, December 31st. Finally, Truist Financial reduced their price target on shares of QXO from $28.00 to $26.00 and set a “buy” rating for the company in a report on Friday, December 19th.

Institutional Trading of QXO

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of QXO by 17.2% in the 3rd quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after acquiring an additional 8,131,331 shares in the last quarter. Affinity Partners GP LP grew its stake in QXO by 99.1% in the second quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock valued at $703,745,000 after purchasing an additional 16,260,163 shares during the last quarter. Alpha Wave Global LP purchased a new position in QXO in the second quarter valued at about $525,366,000. Finepoint Capital LP raised its holdings in QXO by 5.4% in the third quarter. Finepoint Capital LP now owns 22,295,615 shares of the company’s stock worth $424,954,000 after purchasing an additional 1,142,747 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of QXO by 16,117.6% during the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after buying an additional 14,644,305 shares during the last quarter. Institutional investors own 58.68% of the company’s stock.

QXO Trading Down 0.9%

Shares of QXO opened at $23.90 on Friday. The firm has a market capitalization of $16.12 billion, a price-to-earnings ratio of -54.31, a PEG ratio of 2.97 and a beta of 2.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.06 and a quick ratio of 2.24. QXO has a 1-year low of $11.85 and a 1-year high of $26.24. The company has a 50-day moving average of $21.17 and a 200 day moving average of $20.34.

QXO (NYSE:QXO) last issued its earnings results on Thursday, November 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates 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 negative net margin of 3.81% and a positive return on equity of 3.70%. QXO’s revenue for the quarter was up 20726.7% on a year-over-year basis. On average, research analysts expect that QXO will post -0.13 EPS for the current year.

About QXO

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.