QXO, Inc. $QXO Shares Bought by Lewis Asset Management LLC

Lewis Asset Management LLC boosted its position in shares of QXO, Inc. (NYSE:QXO) by 18.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,800 shares of the company’s stock after buying an additional 34,020 shares during the period. QXO accounts for about 1.7% of Lewis Asset Management LLC’s portfolio, making the stock its 12th largest holding. Lewis Asset Management LLC’s holdings in QXO were worth $4,210,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Arax Advisory Partners acquired a new stake in shares of QXO in the fourth quarter worth approximately $25,000. LRI Investments LLC raised its stake in QXO by 129.1% in the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after purchasing an additional 835 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in QXO by 57.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after purchasing an additional 575 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in QXO in the 2nd quarter valued at $30,000. Finally, NewEdge Advisors LLC boosted its stake in QXO by 42.4% during the 4th 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. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Trading Down 1.5%

QXO opened at $17.73 on Friday. QXO, Inc. has a 52 week low of $14.75 and a 52 week high of $27.61. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $18.11 and a 200-day simple moving average of $20.86. The firm has a market cap of $12.86 billion, a P/E ratio of -19.49, a P/E/G ratio of 4.62 and a beta of 2.30.

QXO (NYSE:QXO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) 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 business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. QXO’s revenue for the quarter was up 12716.3% compared to the same quarter last year. On average, equities analysts expect that QXO, Inc. will post 0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada reduced their target price on shares of QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. Citigroup decreased their target price on shares of QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Finally, Stephens lowered their target price on QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Fifteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.14.

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.