Paralel Advisors LLC Has $35.42 Million Stock Position in QXO, Inc. $QXO

Paralel Advisors LLC lifted its holdings in shares of QXO, Inc. (NYSE:QXO) by 36.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,050,000 shares of the company’s stock after buying an additional 550,000 shares during the quarter. QXO comprises approximately 1.4% of Paralel Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. Paralel Advisors LLC’s holdings in QXO were worth $35,424,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Alan B Lancz & Associates Inc. bought a new stake in shares of QXO during the 2nd quarter valued at $244,000. Ameritas Advisory Services LLC grew its stake in shares of QXO by 106.7% during the second quarter. Ameritas Advisory Services LLC now owns 44,242 shares of the company’s stock worth $765,000 after purchasing an additional 22,838 shares during the period. Wedmont Private Capital acquired a new stake in shares of QXO during the second quarter worth $294,000. Troluce Capital Advisors LLC bought a new stake in QXO in the second quarter valued at about $3,456,000. Finally, AlphaGrep UK Ltd bought a new stake in QXO in the second quarter valued at about $218,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on QXO shares. Royal Bank Of Canada restated an “outperform” rating and set a $27.00 target price on shares of QXO in a report on Friday, July 10th. Wells Fargo & Company set a $18.00 price target on shares of QXO in a research report on Tuesday, July 28th. DA Davidson started coverage on shares of QXO in a research note on Monday, August 24th. They set a “buy” rating and a $26.00 price objective on the stock. Morgan Stanley assumed coverage on shares of QXO in a research note on Tuesday, August 4th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, Stephens cut their target price on shares of QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

QXO Stock Up 0.5%

QXO stock opened at $13.42 on Monday. The company has a 50 day moving average of $14.53 and a 200-day moving average of $17.90. The company has a quick ratio of 3.29, a current ratio of 4.11 and a debt-to-equity ratio of 0.66. QXO, Inc. has a twelve month low of $12.80 and a twelve month high of $27.61. The stock has a market capitalization of $13.92 billion, a PE ratio of -14.91, a price-to-earnings-growth ratio of 2.30 and a beta of 2.32.

QXO (NYSE:QXO) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. On average, equities research analysts anticipate that QXO, Inc. will post 0.29 EPS 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. 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.