QXO (NYSE:QXO) Reaches New 1-Year Low – Here’s What Happened

QXO, Inc. (NYSE:QXO)’s stock price reached a new 52-week low on Wednesday. The stock traded as low as $10.25 and last traded at $10.3350, with a volume of 5,583,840 shares trading hands. The stock had previously closed at $11.02.

Analyst Ratings Changes

A number of research analysts recently issued reports on QXO shares. DA Davidson set a $20.00 target price on shares of QXO in a research report on Friday. Wells Fargo & Company reduced their price target on shares of QXO from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a research note on Wednesday, August 26th. Truist Financial dropped their price objective on shares of QXO from $26.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. Finally, Benchmark reiterated a “buy” rating on shares of QXO in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.21.

QXO Trading Down 6.1%

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 firm has a fifty day simple moving average of $12.97 and a 200-day simple moving average of $15.90. The firm has a market cap of $10.73 billion, a P/E ratio of -11.49, a price-to-earnings-growth ratio of 2.16 and a beta of 2.30.

QXO (NYSE:QXO) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. On average, equities research analysts expect that QXO, Inc. will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Root Financial Partners LLC lifted its position in QXO by 73,350.0% in the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock valued at $29,000 after acquiring an additional 1,467 shares in the last quarter. CoreCap Advisors LLC bought a new stake in QXO during the 3rd quarter worth approximately $41,000. Versant Capital Management Inc increased its holdings in QXO by 718.7% during the 3rd quarter. Versant Capital Management Inc now owns 3,635 shares of the company’s stock worth $42,000 after purchasing an additional 3,191 shares in the last quarter. NFSG Corp increased its holdings in QXO by 39.6% during the 1st quarter. NFSG Corp now owns 2,198 shares of the company’s stock worth $43,000 after purchasing an additional 623 shares in the last quarter. Finally, Whipplewood Advisors LLC lifted its holdings in shares of 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 purchasing an additional 2,647 shares in the last quarter. 58.68% of the stock is currently owned by institutional investors and hedge funds.

About QXO

QXO, Inc is a building products distribution company focused on supplying contractors and other construction professionals. Its product portfolio includes roofing materials, siding, windows, waterproofing products and related exterior building supplies. The company serves residential and commercial construction and repair markets through branch locations, distribution centers and digital ordering channels.

QXO operates through Beacon, a major distributor of roofing and complementary building products in the United States and Canada.