KeyCorp Issues Pessimistic Forecast for QXO (NYSE:QXO) Stock Price

QXO (NYSE:QXO) had its target price cut by research analysts at KeyCorp from $28.00 to $19.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp‘s price target would suggest a potential upside of 48.23% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Benchmark reiterated a “buy” rating on shares of QXO in a report on Friday, August 14th. Melius Research assumed coverage on QXO in a research note on Tuesday, October 6th. They issued a “buy” rating and a $17.00 price target for the company. Wells Fargo & Company cut their price objective on QXO from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, October 16th. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th. Finally, Zacks Research upgraded QXO from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, QXO currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.08.

QXO Price Performance

QXO stock opened at $12.82 on Friday. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of -14.24, a P/E/G ratio of 3.08 and a beta of 2.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.11 and a quick ratio of 3.29. The company has a 50 day simple moving average of $11.77 and a 200 day simple moving average of $16.82. QXO has a 1 year low of $10.03 and a 1 year high of $27.61.

QXO (NYSE:QXO) last issued its earnings results on Thursday, November 12th. The company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.86 billion. Research analysts anticipate that QXO will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On QXO

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CI Investments Inc. raised its position in shares of QXO by 4.1% in the 1st quarter. CI Investments Inc. now owns 2,598,840 shares of the company’s stock worth $50,469,000 after acquiring an additional 102,838 shares in the last quarter. Gainplan LLC lifted its stake in shares of QXO by 390.2% in the 3rd quarter. Gainplan LLC now owns 502,025 shares of the company’s stock valued at $5,869,000 after purchasing an additional 399,605 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its position in shares of QXO by 25.9% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 5,703,964 shares of the company’s stock valued at $66,679,000 after purchasing an additional 1,173,274 shares in the last quarter. Hudson Value Partners LLC boosted its position in shares of QXO by 87.6% during the 2nd quarter. Hudson Value Partners LLC now owns 215,998 shares of the company’s stock valued at $3,732,000 after purchasing an additional 100,856 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its position in shares of QXO by 177.9% during the 3rd quarter. Salem Investment Counselors Inc. now owns 332,955 shares of the company’s stock valued at $3,892,000 after purchasing an additional 213,150 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

Latest QXO News

Investors following QXO have been watching these news items:

• Positive Sentiment: Third-quarter revenue rose 79% year over year to about $4.9 billion, topping analyst estimates, while gross profit increased 117% to $1.4 billion. QXO also reported adjusted EPS of $0.13, in line with consensus. QXO Q3 earnings details
• Neutral Sentiment: Northcoast Research initiated coverage with a “neutral” rating, providing a new analyst view but no strong directional endorsement. Northcoast Research coverage
• Neutral Sentiment: QXO named Dev Ahuja CFO and promoted current CFO Ihsan Essaid to vice chairman, with the changes effective in January 2027. The transition brings an experienced incoming finance chief, though investors may watch how it unfolds. QXO leadership changes

About QXO

QXO, Inc. is a distributor of building products serving contractors and other customers in the construction industry. Its offerings include roofing materials, waterproofing products and complementary building supplies for residential and commercial projects. QXO expanded its business through its acquisition of Beacon Roofing Supply in 2025, bringing Beacon’s distribution network and product expertise into the company. Beacon serves customers across the United States and Canada. QXO is led by Chairman and Chief Executive Officer Brad Jacobs, an entrepreneur whose previous leadership roles include executive positions at XPO and United Rentals.