Mirae Asset Global Investments Co. Ltd. Buys Shares of 118,700 QXO, Inc. $QXO

Mirae Asset Global Investments Co. Ltd. purchased a new position in QXO, Inc. (NYSE:QXO) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 118,700 shares of the company’s stock, valued at approximately $2,262,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in QXO. Farther Finance Advisors LLC bought a new position in QXO in the second quarter valued at $25,000. American Capital Advisory LLC boosted its holdings in shares of QXO by 258.0% in the 2nd quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after purchasing an additional 841 shares in the last quarter. Bogart Wealth LLC bought a new position in shares of QXO during the 3rd quarter valued at about $25,000. Allworth Financial LP raised its holdings in shares of QXO by 1,740.9% during the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after buying an additional 1,149 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of QXO during the 2nd quarter valued at about $28,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank Of Canada set a $30.00 target price on QXO in a research note on Friday, January 9th. Benchmark reiterated a “buy” rating on shares of QXO in a research report on Friday, January 16th. Truist Financial lowered their price target on shares of QXO from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, December 19th. William Blair reaffirmed an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. Finally, Oppenheimer lifted their price objective on QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.43.

QXO Price Performance

Shares of QXO stock opened at $22.80 on Wednesday. The firm has a market cap of $15.38 billion, a P/E ratio of -51.83, a P/E/G ratio of 2.71 and a beta of 2.55. The business’s 50 day moving average price is $22.03 and its 200-day moving average price is $20.40. QXO, Inc. has a fifty-two week low of $11.85 and a fifty-two week high of $26.24. 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 data on Thursday, November 6th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.78 billion. QXO’s revenue for the quarter was up 20726.7% compared to the same quarter last year. On average, equities research analysts anticipate that QXO, Inc. will post -0.13 earnings per share for the current year.

QXO 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.