Tsai Capital Corp Has $25.28 Million Stock Holdings in QXO, Inc. $QXO

Tsai Capital Corp boosted its holdings in QXO, Inc. (NYSE:QXO) by 9.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,326,083 shares of the company’s stock after acquiring an additional 114,342 shares during the quarter. QXO accounts for approximately 17.6% of Tsai Capital Corp’s portfolio, making the stock its 2nd largest position. Tsai Capital Corp’s holdings in QXO were worth $25,275,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of QXO. Bogart Wealth LLC acquired a new stake in shares of QXO in the 3rd quarter valued at approximately $25,000. Allworth Financial LP increased its stake in QXO by 1,740.9% in the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after purchasing an additional 1,149 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in QXO in the second quarter worth $28,000. Russell Investments Group Ltd. bought a new position in shares of QXO during the second quarter worth $30,000. Finally, GAMMA Investing LLC bought a new stake in shares of QXO in the 3rd quarter valued at $31,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on QXO. Benchmark reiterated a “buy” rating on shares of QXO in a report on Friday, February 20th. Loop Capital assumed coverage on shares of QXO in a report on Thursday, December 11th. They issued a “buy” rating and a $31.00 price target for the company. Citigroup dropped their price objective on shares of QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Weiss Ratings restated a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. Finally, Oppenheimer increased their target price on shares of QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, QXO has an average rating of “Moderate Buy” and an average price target of $32.43.

QXO Price Performance

Shares of QXO opened at $21.72 on Tuesday. The firm has a market capitalization of $15.39 billion, a PE ratio of -36.81, a PEG ratio of 2.97 and a beta of 2.51. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.61. The company’s 50-day moving average is $23.72 and its 200-day moving average is $21.04. QXO, Inc. has a fifty-two week low of $11.97 and a fifty-two week high of $27.61.

QXO (NYSE:QXO) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.19 billion. QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The business’s revenue was up 14725.0% compared to the same quarter last year. Equities analysts forecast that QXO, Inc. will post -0.13 EPS 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.