QXO (NYSE:QXO) Stock Falls 4.7% – Should You Sell?

QXO, Inc. (NYSE:QXO) shares dropped 4.7% during trading on Monday. The company traded as low as $10.45 and last traded at $10.3550. Approximately 5,503,023 shares were traded during mid-day trading, a decline of 66% from the average session volume of 16,253,033 shares. The stock had previously closed at $10.86.

Analyst Ratings Changes

QXO has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of QXO in a report on Wednesday, August 26th. DA Davidson set a $20.00 price target on shares of QXO in a research report on Friday, October 9th. Wells Fargo & Company lowered their price objective on shares of QXO from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday. Royal Bank Of Canada dropped their price objective on shares of QXO from $27.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, October 7th. Finally, Zacks Research raised shares of QXO from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, QXO presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.77.

QXO Price Performance

The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of -11.64, a PEG ratio of 2.13 and a beta of 2.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.29 and a current ratio of 4.11. The company has a 50 day moving average of $12.47 and a 200 day moving average of $15.60.

QXO (NYSE:QXO) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. As a group, equities research analysts anticipate that QXO, Inc. will post 0.24 EPS for the current year.

Institutional Trading of QXO

Several hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC grew its stake in QXO by 73,350.0% during the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after buying an additional 1,467 shares during the last quarter. NFSG Corp lifted its stake in QXO by 39.6% in the first quarter. NFSG Corp now owns 2,198 shares of the company’s stock valued at $43,000 after buying an additional 623 shares during the last quarter. Whipplewood Advisors LLC lifted its stake in QXO by 12,604.8% in the first quarter. Whipplewood Advisors LLC now owns 2,668 shares of the company’s stock valued at $52,000 after buying an additional 2,647 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in QXO in the third quarter valued at approximately $41,000. Finally, Capital Analysts LLC boosted its holdings in shares of QXO by 116.2% in the second quarter. Capital Analysts LLC now owns 3,544 shares of the company’s stock valued at $61,000 after acquiring an additional 1,905 shares during the period. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Company Profile

QXO, Inc is a building products distribution company serving professional contractors and other customers in the construction industry. Its product offerings include roofing materials, siding, windows, doors, insulation and related exterior building products.

The company operates through a network of distribution locations in the United States and Canada, providing materials, delivery services and product support to contractors and other building-industry customers. QXO’s strategy is focused on expanding its presence in the building products distribution market through organic growth and acquisitions.

QXO was formerly known as SilverSun Technologies, Inc and adopted the QXO name as part of a strategic transformation led by investor Brad Jacobs.