Y Intercept Hong Kong Ltd Acquires 316,754 Shares of QXO, Inc. $QXO

Y Intercept Hong Kong Ltd raised its holdings in QXO, Inc. (NYSE:QXO) by 530.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 376,483 shares of the company’s stock after buying an additional 316,754 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.06% of QXO worth $8,109,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC acquired a new stake in shares of QXO in the second quarter worth $25,000. Larson Financial Group LLC bought a new stake in QXO in the 1st quarter valued at $26,000. Ridgewood Investments LLC acquired a new stake in QXO in the 1st quarter worth $27,000. CWM LLC acquired a new stake in QXO in the 1st quarter worth $27,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of QXO by 57.4% during the 1st quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company’s stock worth $38,000 after purchasing an additional 1,017 shares during the period. 58.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on QXO. Wells Fargo & Company assumed coverage on shares of QXO in a research note on Tuesday, August 5th. They issued an “overweight” rating and a $30.00 target price for the company. Raymond James Financial assumed coverage on QXO in a research note on Friday, September 5th. They set an “outperform” rating and a $28.00 price target on the stock. Morgan Stanley assumed coverage on QXO in a research note on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 price target on the stock. Truist Financial lowered their price target on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. Finally, Vertical Research assumed coverage on QXO in a research note on Tuesday, October 21st. They set a “buy” rating and a $30.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.85.

QXO Trading Up 0.6%

QXO stock opened at $18.41 on Monday. QXO, Inc. has a 1-year low of $11.85 and a 1-year high of $24.69. The firm has a market cap of $12.40 billion, a P/E ratio of -87.68, a P/E/G ratio of 2.57 and a beta of 2.25. The business’s 50 day moving average is $19.99 and its 200-day moving average is $18.89. The company has a current ratio of 3.00, a quick ratio of 2.15 and a debt-to-equity ratio of 0.38.

QXO (NYSE:QXO) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.07. QXO had a positive return on equity of 2.15% and a negative net margin of 1.09%.The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.87 billion. Equities analysts anticipate that QXO, Inc. will post -0.13 earnings per share for the current fiscal 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.