QXO, Inc. $QXO Shares Acquired by Investment House LLC

Investment House LLC raised its position in QXO, Inc. (NYSE:QXO) by 28.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 855,460 shares of the company’s stock after buying an additional 189,055 shares during the quarter. Investment House LLC’s holdings in QXO were worth $10,000,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of QXO. Red Door Wealth Management LLC boosted its position in QXO by 3.9% during the 1st 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 last quarter. NFSG Corp raised its holdings in shares of QXO by 39.6% in the first quarter. NFSG Corp now owns 2,198 shares of the company’s stock valued at $43,000 after purchasing an additional 623 shares during the last quarter. Strs Ohio raised its holdings in shares of QXO by 1.1% in the first quarter. Strs Ohio now owns 69,393 shares of the company’s stock valued at $1,348,000 after purchasing an additional 760 shares during the last quarter. First Bank & Trust raised its holdings in shares of QXO by 7.3% in the second quarter. First Bank & Trust now owns 15,047 shares of the company’s stock valued at $260,000 after purchasing an additional 1,026 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in shares of QXO by 7.2% in the third quarter. Valeo Financial Advisors LLC now owns 15,860 shares of the company’s stock worth $185,000 after purchasing an additional 1,062 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on QXO. Royal Bank Of Canada reduced their target price on shares of QXO from $27.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, October 7th. Citigroup decreased their target price on shares of QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Wells Fargo & Company lowered their price target on shares of QXO from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, October 16th. Truist Financial cut their price target on shares of QXO from $26.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Finally, Morgan Stanley began coverage on shares of QXO in a research report on Tuesday, August 4th. They set an “overweight” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.77.

QXO Stock Up 7.1%

QXO stock opened at $11.04 on Friday. The company has a quick ratio of 3.29, a current ratio of 4.11 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average price of $12.30 and a two-hundred day moving average price of $15.48. The company has a market cap of $11.46 billion, a price-to-earnings ratio of -12.27, a P/E/G ratio of 2.17 and a beta of 2.30. QXO, Inc. has a twelve month low of $10.03 and a twelve month high of $27.61.

QXO (NYSE:QXO) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $3.18 billion. Analysts anticipate that QXO, Inc. will post 0.24 EPS for the current fiscal year.

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.