QXO, Inc. (NYSE:QXO) Stock Has Consensus Target Price of $25.14 According to Brokerages

QXO, Inc. (NYSE:QXO) has been given a consensus rating of “Moderate Buy” by the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $24.77.

QXO has been the subject of a number of recent research reports. Benchmark reissued a “buy” rating on shares of QXO in a research note on Friday, August 14th. Royal Bank Of Canada dropped their target price on QXO from $27.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 7th. DA Davidson set a $20.00 price target on QXO in a report on Friday, October 9th. Melius Research started coverage on QXO in a research report on Tuesday, October 6th. They issued a “buy” rating and a $17.00 price target for the company. Finally, Truist Financial decreased their price objective on QXO from $26.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, October 8th.

QXO Stock Performance

Shares of QXO stock opened at $10.48 on Tuesday. The company has a current ratio of 4.11, a quick ratio of 3.29 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average price is $12.24 and its 200-day moving average price is $17.68. The firm has a market cap of $10.87 billion, a P/E ratio of -11.64, a P/E/G ratio of 2.21 and a beta of 2.30. QXO has a 12 month low of $10.03 and a 12 month high of $27.61.

QXO (NYSE:QXO) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. On average, equities research analysts expect that QXO will post 0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QXO

Several institutional investors and hedge funds have recently added to or reduced their stakes in QXO. Root Financial Partners LLC lifted its position in shares of QXO by 73,350.0% during the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock valued at $29,000 after buying an additional 1,467 shares during the last quarter. NFSG Corp boosted its holdings in shares of QXO by 39.6% in the 1st quarter. NFSG Corp now owns 2,198 shares of the company’s stock valued at $43,000 after buying an additional 623 shares in the last quarter. Center for Financial Planning Inc. purchased a new position in shares of QXO in the 3rd quarter worth approximately $26,000. Whipplewood Advisors LLC grew its position in shares of QXO by 12,604.8% in the 1st quarter. Whipplewood Advisors LLC now owns 2,668 shares of the company’s stock worth $52,000 after buying an additional 2,647 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of QXO by 166.6% in the 3rd quarter. Signaturefd LLC now owns 2,973 shares of the company’s stock worth $35,000 after buying an additional 1,858 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Company Profile

QXO, Inc is a building products distribution company serving professional contractors and other customers in the construction industry. Its product offerings include roofing materials, siding, windows, doors, insulation and related exterior building products.

The company operates through a network of distribution locations in the United States and Canada, providing materials, delivery services and product support to contractors and other building-industry customers. QXO’s strategy is focused on expanding its presence in the building products distribution market through organic growth and acquisitions.

QXO was formerly known as SilverSun Technologies, Inc and adopted the QXO name as part of a strategic transformation led by investor Brad Jacobs.