Braun Stacey Associates Inc. Has $25.95 Million Stake in QXO, Inc. $QXO

Braun Stacey Associates Inc. raised its holdings in QXO, Inc. (NYSE:QXO) by 2.9% in the 1st quarter, HoldingsChannel reports. The firm owned 1,336,330 shares of the company’s stock after purchasing an additional 37,480 shares during the quarter. Braun Stacey Associates Inc.’s holdings in QXO were worth $25,952,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of QXO by 67.5% in the first quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock valued at $1,620,000 after buying an additional 48,248 shares in the last quarter. AQR Capital Management LLC acquired a new position in QXO during the 1st quarter worth about $615,000. Millennium Management LLC lifted its position in QXO by 6.6% during the 1st quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock worth $4,361,000 after buying an additional 20,067 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in QXO by 13.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock worth $9,449,000 after acquiring an additional 81,758 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in QXO during the 2nd quarter worth about $837,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Price Performance

QXO stock opened at $17.73 on Friday. The business’s 50-day simple moving average is $18.11 and its 200 day simple moving average is $20.86. 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 stock has a market cap of $12.86 billion, a price-to-earnings ratio of -19.49, a P/E/G ratio of 4.56 and a beta of 2.30. QXO, Inc. has a 12-month low of $14.75 and a 12-month high of $27.61.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on QXO shares. Wall Street Zen upgraded shares of QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Oppenheimer increased their price target on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Royal Bank Of Canada decreased their price target on shares of QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. KeyCorp raised their price target on shares of QXO from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Finally, BNP Paribas Exane assumed coverage on shares of QXO in a research report on Monday, March 16th. They issued an “outperform” rating and a $30.00 price objective for the company. Fifteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, QXO has a consensus rating of “Moderate Buy” and an average price target 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.