Lombard Odier Asset Management USA Corp Sells 60,120 Shares of QXO, Inc. $QXO

Lombard Odier Asset Management USA Corp cut its position in QXO, Inc. (NYSE:QXO) by 37.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 101,717 shares of the company’s stock after selling 60,120 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in QXO were worth $1,962,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in QXO. Arax Advisory Partners bought a new position in QXO in the fourth quarter worth about $25,000. LRI Investments LLC raised its holdings in QXO by 129.1% in 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. raised its holdings in QXO by 57.5% in 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. bought a new position in QXO in the second quarter worth about $30,000. Finally, Allworth Financial LP raised its holdings in QXO by 66.9% in 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. 58.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BNP Paribas Exane assumed coverage on shares of QXO in a report on Monday, March 16th. They issued an “outperform” rating and a $30.00 target price for the company. Royal Bank Of Canada reduced their target price on shares of QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Stephens cut their price objective 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. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Finally, Wall Street Zen upgraded shares of QXO from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Fifteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.14.

QXO Stock Performance

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

QXO (NYSE:QXO) last posted its quarterly earnings data 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). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. The business’s quarterly revenue was up 12716.3% compared to the same quarter last year. As a group, equities analysts anticipate that QXO, Inc. will post 0.2 EPS for the current fiscal year.

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. 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.