QXO (NYSE:QXO) Sets New 52-Week Low – What’s Next?

QXO, Inc. (NYSE:QXO) shares reached a new 52-week low during trading on Friday . The company traded as low as $15.45 and last traded at $15.5250, with a volume of 13132600 shares. The stock had previously closed at $16.23.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BNP Paribas Exane started coverage on QXO in a research report on Monday, March 16th. They issued an “outperform” rating and a $30.00 target price for the company. Oppenheimer boosted their price objective on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Royal Bank Of Canada decreased their price objective on QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Robert W. Baird lowered their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, KeyCorp upped their price target on shares of QXO from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Sixteen equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

QXO Trading Down 2.6%

The company has a 50 day simple moving average of $19.25 and a 200 day simple moving average of $21.04. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $11.47 billion, a PE ratio of -17.37, a P/E/G ratio of 4.22 and a beta of 2.30.

QXO (NYSE:QXO) last announced its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The company’s quarterly revenue was up 12716.3% on a year-over-year basis. Analysts predict that QXO, Inc. will post 0.2 earnings per share for the current fiscal year.

Institutional Trading of QXO

Institutional investors and hedge funds have recently modified their holdings of the business. Fishman Jay A Ltd. MI purchased a new stake in QXO during the 3rd quarter worth about $10,444,000. Fred Alger Management LLC purchased a new position in QXO in the 3rd quarter valued at about $173,053,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in QXO by 748.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock valued at $16,928,000 after purchasing an additional 774,138 shares in the last quarter. Baillie Gifford & Co. boosted its stake 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. Finally, JNBA Financial Advisors acquired a new stake in shares of QXO during the 4th quarter worth about $992,000. Hedge funds and other institutional investors 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.