QXO (NYSE:QXO) Stock Picked Up by Analysts at Melius Research

Research analysts at Melius Research started coverage on shares of QXO (NYSE:QXO) in a report released on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $17.00 price target on the stock. Melius Research’s target price points to a potential upside of 50.11% from the stock’s previous close.

A number of other equities research analysts have also commented on QXO. Wells Fargo & Company set a $18.00 price objective on shares of QXO in a report on Tuesday, July 28th. KeyCorp dropped their target price on shares of QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research note on Wednesday, August 26th. Citigroup decreased their price target on shares of QXO from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Finally, Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.57.

QXO Price Performance

QXO stock opened at $11.32 on Tuesday. The business’s fifty day moving average is $13.23 and its two-hundred day moving average is $16.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.29 and a current ratio of 4.11. The firm has a market cap of $11.75 billion, a P/E ratio of -12.58, a P/E/G ratio of 2.20 and a beta of 2.30. QXO has a 52 week low of $10.77 and a 52 week high of $27.61.

QXO (NYSE:QXO) last announced its earnings results on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%.The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. Equities research analysts forecast that QXO will post 0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On QXO

A number of institutional investors have recently made changes to their positions in QXO. Red Door Wealth Management LLC raised its holdings in shares of QXO by 3.9% during the first quarter. Red Door Wealth Management LLC now owns 15,982 shares of the company’s stock worth $310,000 after acquiring an additional 600 shares during the period. Alamea Verwaltungs GmbH boosted its stake in QXO by 4.5% in the 4th quarter. Alamea Verwaltungs GmbH now owns 13,960 shares of the company’s stock worth $269,000 after purchasing an additional 602 shares during the period. NFSG Corp boosted its stake in QXO by 39.6% in the 1st quarter. NFSG Corp now owns 2,198 shares of the company’s stock worth $43,000 after purchasing an additional 623 shares during the period. Strs Ohio increased its holdings in QXO by 1.1% during the 1st quarter. Strs Ohio now owns 69,393 shares of the company’s stock worth $1,348,000 after purchasing an additional 760 shares in the last quarter. Finally, First Bank & Trust increased its holdings in QXO by 7.3% during the 2nd quarter. First Bank & Trust now owns 15,047 shares of the company’s stock worth $260,000 after purchasing an additional 1,026 shares in the last quarter. 58.68% of the stock is owned by institutional investors and hedge funds.

Key QXO News

Here are the key news stories impacting QXO this week:

• Positive Sentiment: RBC maintained an Outperform rating despite lowering its price target to $18 from $27, while Melius Research initiated coverage with a Buy rating and a $17 target. These targets imply substantial potential upside if QXO successfully executes its strategy. RBC Adjusts Price Target on QXO QXO Now Covered by Melius Research
• Neutral Sentiment: QXO’s large acquisitions, including Kodiak and TopBuild, have increased its scale and support management’s long-term goal of reaching $50 billion in annual revenue. However, investors are closely monitoring integration progress, synergy realization, and the balance-sheet impact of the transactions. QXO Completes Acquisition of TopBuild
• Negative Sentiment: The primary pressure came from RBC’s target cut and a more cautious outlook for building-products companies heading into 2027. Analysts cited soft residential demand, housing and construction-cycle exposure, and potential margin pressure. Investors also remain concerned that integrating recent acquisitions could be difficult, particularly while market conditions are weak. Stock Market Today, Oct. 7: QXO Falls on RBC Price-Target Cut QXO Falls as Sector Caution and Integration Concerns Weigh on Shares

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.