QXO (NYSE:QXO) Given New $26.00 Price Target at Stephens

QXO (NYSE:QXO) had its price target reduced by equities research analysts at Stephens from $29.00 to $26.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Stephens’ price target would suggest a potential upside of 52.58% from the stock’s previous close.

A number of other analysts have also weighed in on QXO. Zacks Research lowered shares of QXO from a “hold” rating to a “strong sell” rating in a report on Tuesday. Citigroup lowered their price target on QXO from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Royal Bank Of Canada dropped their price objective on QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Robert W. Baird cut their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, KeyCorp boosted their target price on QXO from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Sixteen research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.13.

QXO Stock Down 3.9%

Shares of NYSE QXO opened at $17.04 on Thursday. The firm’s fifty day moving average is $20.57 and its 200 day moving average is $21.14. QXO has a 52 week low of $15.27 and a 52 week high of $27.61. The company has a quick ratio of 2.61, a current ratio of 3.58 and a debt-to-equity ratio of 0.37. The company has a market cap of $12.35 billion, a price-to-earnings ratio of -18.73, a PEG ratio of 2.50 and a beta of 2.40.

QXO (NYSE:QXO) last announced its quarterly earnings results 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). The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.93%. QXO’s quarterly revenue was up 12716.3% on a year-over-year basis. On average, equities research analysts expect that QXO will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in QXO. Bogart Wealth LLC purchased a new stake in QXO in the third quarter worth $25,000. Arax Advisory Partners purchased a new stake in shares of QXO in the 4th quarter worth about $25,000. LRI Investments LLC increased its stake in shares of QXO by 129.1% in the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after acquiring an additional 835 shares in the last quarter. Root Financial Partners LLC increased its stake in shares of QXO by 73,350.0% in the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after acquiring an additional 1,467 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its position in QXO by 57.5% during 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. Hedge funds and other institutional investors own 58.68% of the company’s stock.

About QXO

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.