Corrado Advisors LLC Trims Stock Holdings in QXO, Inc. $QXO

Corrado Advisors LLC trimmed its position in QXO, Inc. (NYSE:QXO) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,546 shares of the company’s stock after selling 1,311 shares during the period. Corrado Advisors LLC’s holdings in QXO were worth $1,800,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of QXO. Vanguard Group Inc. boosted its holdings in QXO by 146.1% in the 1st quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company’s stock valued at $334,539,000 after purchasing an additional 14,667,571 shares during the period. Blue Investment Opportunities LLC Project Breeze Series 1 bought a new position in QXO in the 1st quarter valued at $118,142,000. Catawba River Capital boosted its holdings in QXO by 127.8% in the 2nd quarter. Catawba River Capital now owns 1,116,119 shares of the company’s stock valued at $24,041,000 after purchasing an additional 626,067 shares during the period. TD Asset Management Inc boosted its holdings in QXO by 189.1% in the 2nd quarter. TD Asset Management Inc now owns 891,482 shares of the company’s stock valued at $19,203,000 after purchasing an additional 583,092 shares during the period. Finally, Pacer Advisors Inc. bought a new position in QXO in the 1st quarter valued at $6,534,000. 58.68% of the stock is owned by institutional investors.

QXO Stock Performance

NYSE QXO opened at $18.15 on Wednesday. QXO, Inc. has a 52-week low of $11.85 and a 52-week high of $24.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.15 and a current ratio of 3.00. The company has a market capitalization of $12.23 billion, a P/E ratio of -86.44, a P/E/G ratio of 2.52 and a beta of 2.25. The company has a fifty day moving average of $19.90 and a 200-day moving average of $18.95.

QXO (NYSE:QXO) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.07. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.87 billion. As a group, equities research analysts predict that QXO, Inc. will post -0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QXO. Zacks Research downgraded shares of QXO from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Wells Fargo & Company began coverage on shares of QXO in a report on Tuesday, August 5th. They issued an “overweight” rating and a $30.00 price target for the company. Truist Financial cut their price target on shares of QXO from $30.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Vertical Research assumed coverage on shares of QXO in a report on Tuesday, October 21st. They set a “buy” rating and a $30.00 price objective for the company. Finally, Raymond James Financial assumed coverage on shares of QXO in a report on Friday, September 5th. They set an “outperform” rating and a $28.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, QXO currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.85.

QXO 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.