Lombard Odier Asset Management Europe Ltd Makes New Investment in QXO, Inc. $QXO

Lombard Odier Asset Management Europe Ltd acquired a new position in shares of QXO, Inc. (NYSE:QXO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 852,402 shares of the company’s stock, valued at approximately $16,443,000. Lombard Odier Asset Management Europe Ltd owned approximately 0.13% of QXO at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in QXO. Arax Advisory Partners acquired a new stake in shares of QXO during the fourth quarter worth about $25,000. LRI Investments LLC increased its position in shares of QXO by 129.1% during the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after purchasing an additional 835 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of QXO by 57.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after purchasing an additional 575 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of QXO during the second quarter worth about $30,000. Finally, Allworth Financial LP increased its position in shares of QXO by 66.9% during the third quarter. Allworth Financial LP now owns 2,028 shares of the company’s stock worth $39,000 after purchasing an additional 813 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Performance

Shares of QXO stock opened at $16.96 on Wednesday. The stock has a market capitalization of $12.30 billion, a PE ratio of -18.64, a price-to-earnings-growth ratio of 4.28 and a beta of 2.30. QXO, Inc. has a 52-week low of $14.75 and a 52-week high of $27.61. The stock’s 50-day moving average price is $18.76 and its 200 day moving average price is $21.00. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on QXO shares. KeyCorp lifted their target price on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Citigroup cut their target price on shares of QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 15th. BNP Paribas Exane began coverage on shares of QXO in a report on Monday, March 16th. They issued an “outperform” rating and a $30.00 target price on the stock. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Finally, Royal Bank Of Canada cut their target price on shares of QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. Fifteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, QXO presently has a consensus rating of “Moderate Buy” and an average target price of $31.14.

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.