Fiduciary Alliance LLC Grows Stake in QXO, Inc. $QXO

Fiduciary Alliance LLC boosted its stake in QXO, Inc. (NYSE:QXO) by 53.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,563 shares of the company’s stock after buying an additional 62,290 shares during the quarter. Fiduciary Alliance LLC’s holdings in QXO were worth $3,487,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fred Alger Management LLC purchased a new stake in QXO in the 3rd quarter valued at $173,053,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of QXO by 748.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock worth $16,928,000 after acquiring an additional 774,138 shares during the period. Baillie Gifford & Co. boosted its position in shares of QXO by 16,117.6% during the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after acquiring an additional 14,644,305 shares during the last quarter. JNBA Financial Advisors acquired a new position in shares of QXO during the 4th quarter valued at about $992,000. Finally, Neuberger Berman Group LLC grew its holdings in shares of QXO by 36.0% in the third quarter. Neuberger Berman Group LLC now owns 1,108,631 shares of the company’s stock valued at $21,131,000 after purchasing an additional 293,351 shares during the period. 58.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on QXO. Robert W. Baird cut their price objective on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Citigroup dropped their price target on shares of QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, May 15th. KeyCorp raised their price target on shares of QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Finally, Oppenheimer lifted their price target on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Fifteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.14.

QXO Stock Performance

NYSE QXO opened at $16.91 on Thursday. The stock has a fifty day simple moving average of $18.33 and a 200-day simple moving average of $20.90. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The stock has a market cap of $12.26 billion, a PE ratio of -18.58, a P/E/G ratio of 4.16 and a beta of 2.30. QXO, Inc. has a twelve month low of $14.75 and a twelve month high of $27.61.

QXO (NYSE:QXO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. The business’s quarterly revenue was up 12716.3% on a year-over-year basis. Equities analysts anticipate that QXO, Inc. will post 0.2 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.