SG Americas Securities LLC Buys 79,222 Shares of QXO, Inc. $QXO

SG Americas Securities LLC lifted its stake in shares of QXO, Inc. (NYSE:QXO) by 891.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 88,109 shares of the company’s stock after buying an additional 79,222 shares during the period. SG Americas Securities LLC’s holdings in QXO were worth $1,711,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in QXO. Arax Advisory Partners acquired a new stake in shares of QXO in the 4th quarter valued at $25,000. LRI Investments LLC increased its stake in shares of QXO by 129.1% in the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after buying an additional 835 shares during the period. Newbridge Financial Services Group Inc. increased its position 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 acquiring an additional 575 shares during the period. Russell Investments Group Ltd. acquired a new stake in QXO in the second quarter valued at $30,000. Finally, NewEdge Advisors LLC increased its stake in shares of QXO by 42.4% in the fourth quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock valued at $32,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 58.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. KeyCorp dropped their target price on shares of QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday. Oppenheimer upped their price objective on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Zacks Research upgraded QXO from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Finally, Citigroup dropped their price target on shares of QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Fifteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, QXO currently has an average rating of “Moderate Buy” and an average target price of $30.86.

QXO Trading Down 1.9%

Shares of QXO stock opened at $16.23 on Friday. QXO, Inc. has a 1 year low of $14.75 and a 1 year high of $27.61. The firm has a market cap of $11.77 billion, a PE ratio of -17.84, a P/E/G ratio of 4.24 and a beta of 2.23. The stock has a fifty day moving average price of $17.55 and a 200-day moving average price of $20.73. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47.

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