QXO, Inc. (NYSE:QXO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of QXO, Inc. (NYSE:QXO) have been given an average rating of “Moderate Buy” by the eighteen brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $32.1333.

Several equities research analysts have commented on the company. Wall Street Zen downgraded QXO from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. BNP Paribas Exane assumed coverage on QXO in a report on Monday, March 16th. They issued an “outperform” rating and a $30.00 target price on the stock. Oppenheimer boosted their target price on QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Royal Bank Of Canada dropped their target price on QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. raised its stake in shares of QXO by 6.8% in the fourth quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company’s stock worth $122,000 after purchasing an additional 400 shares during the last quarter. Cherry Creek Investment Advisors Inc. raised its stake in shares of QXO by 0.6% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company’s stock worth $1,633,000 after purchasing an additional 474 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of QXO by 42.4% in the fourth quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Maple Capital Management Inc. raised its stake in shares of QXO by 4.7% in the fourth quarter. Maple Capital Management Inc. now owns 11,988 shares of the company’s stock worth $231,000 after purchasing an additional 543 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of QXO by 27.2% in the fourth quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock worth $50,000 after purchasing an additional 552 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Trading Up 9.0%

QXO stock opened at $20.52 on Thursday. The company has a current ratio of 3.58, a quick ratio of 2.61 and a debt-to-equity ratio of 0.37. The business’s fifty day simple moving average is $22.17 and its two-hundred day simple moving average is $20.86. QXO has a 12 month low of $11.97 and a 12 month high of $27.61. The company has a market capitalization of $14.57 billion, a price-to-earnings ratio of -34.78, a price-to-earnings-growth ratio of 3.04 and a beta of 2.50.

QXO (NYSE:QXO) last released its earnings results on Wednesday, February 25th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.QXO’s revenue for the quarter was up 14725.0% on a year-over-year basis. As a group, equities analysts predict that QXO will post -0.13 earnings per share for the current fiscal 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.