QXO (NYSE:QXO) Stock Rating Lowered by Wall Street Zen

QXO (NYSE:QXO) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

A number of other brokerages also recently commented on QXO. BNP Paribas Exane assumed coverage on QXO in a research note on Monday, March 16th. They issued an “outperform” rating and a $30.00 target price on the stock. Oppenheimer upped their price target on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Benchmark reiterated a “buy” rating on shares of QXO in a research note on Friday, February 20th. Royal Bank Of Canada decreased their price target on QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, April 6th. Finally, KeyCorp upped their price target on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, QXO has a consensus rating of “Moderate Buy” and an average target price of $32.47.

QXO Stock Performance

Shares of NYSE QXO opened at $18.66 on Friday. The business’s 50-day moving average price is $21.03 and its two-hundred day moving average price is $21.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.61. QXO has a one year low of $13.72 and a one year high of $27.61. The company has a market capitalization of $13.53 billion, a P/E ratio of -31.62, a price-to-earnings-growth ratio of 2.64 and a beta of 2.40.

QXO (NYSE:QXO) last issued its earnings results on Friday, February 27th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. QXO’s revenue was up 14725.0% on a year-over-year basis. Analysts anticipate that QXO will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QXO

Several large investors have recently made changes to their positions in QXO. Baillie Gifford & Co. lifted its position in shares of QXO by 16,117.6% during the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after purchasing an additional 14,644,305 shares during the last quarter. MTCO Ltd. acquired a new position in shares of QXO during the 3rd quarter worth about $208,534,000. Fred Alger Management LLC acquired a new position in shares of QXO during the 3rd quarter worth about $173,053,000. Schf GPE LLC lifted its position in shares of QXO by 204.3% during the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after purchasing an additional 8,943,089 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of QXO by 17.2% during the 3rd quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after purchasing an additional 8,131,331 shares during the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Company 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.