DA Davidson Has Lowered Expectations for QXO (NYSE:QXO) Stock Price

Key Points

• DA Davidson lowered its QXO price target from $20 to $19 but kept a Buy rating; the new target implies 50.38% upside from the prior close.
• Other analysts also cut targets, including KeyCorp ($28 to $19) and RBC ($27 to $18). Despite the reductions, MarketBeat’s consensus rating is Moderate Buy, with an average target of $24.
• QXO reported quarterly revenue of $4.89 billion, above estimates of $4.86 billion, while EPS of $0.13 matched consensus. Revenue rose 79.4% year over year, according to the article.

QXO (NYSE:QXO - Get Free Report) had its price target dropped by stock analysts at DA Davidson from $20.00 to $19.00 in a research note issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. DA Davidson's price target indicates a potential upside of 50.38% from the company's previous close.

Other analysts also recently issued research reports about the company. KeyCorp reduced their price objective on QXO from $28.00 to $19.00 and set an "overweight" rating for the company in a research report on Friday. Wells Fargo & Company lowered their price objective on QXO from $16.00 to $15.00 and set an "overweight" rating on the stock in a research report on Friday, October 16th. Royal Bank Of Canada cut their target price on QXO from $27.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, October 7th. Weiss Ratings restated a "sell (d)" rating on shares of QXO in a research note on Wednesday, August 26th. Finally, Northcoast Research started coverage on QXO in a research report on Thursday. They issued a "neutral" rating for the company. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $24.00.

QXO Stock Performance

Shares of QXO stock traded down $0.17 during midday trading on Friday, hitting $12.63. The company had a trading volume of 6,989,036 shares, compared to its average volume of 16,524,010. QXO has a 1-year low of $10.03 and a 1-year high of $27.61. The business's 50 day simple moving average is $11.77 and its two-hundred day simple moving average is $16.82. The stock has a market cap of $13.11 billion, a PE ratio of -14.02, a P/E/G ratio of 3.08 and a beta of 2.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.11 and a quick ratio of 3.29.

QXO (NYSE:QXO - Get Free Report) last released its earnings results on Thursday, November 12th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. The firm had revenue of $4.89 billion during the quarter, compared to analysts' expectations of $4.86 billion. During the same period in the prior year, the company earned $0.14 EPS. As a group, equities analysts predict that QXO will post 0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CI Investments Inc. lifted its holdings in QXO by 4.1% during the 1st quarter. CI Investments Inc. now owns 2,598,840 shares of the company's stock worth $50,469,000 after purchasing an additional 102,838 shares during the last quarter. Gainplan LLC boosted its stake in QXO by 390.2% in the 3rd quarter. Gainplan LLC now owns 502,025 shares of the company's stock valued at $5,869,000 after purchasing an additional 399,605 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its stake in QXO by 25.9% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 5,703,964 shares of the company's stock valued at $66,679,000 after purchasing an additional 1,173,274 shares during the period. Hudson Value Partners LLC boosted its stake in QXO by 87.6% in the 2nd quarter. Hudson Value Partners LLC now owns 215,998 shares of the company's stock valued at $3,732,000 after purchasing an additional 100,856 shares during the period. Finally, Salem Investment Counselors Inc. grew its holdings in QXO by 177.9% in the 3rd quarter. Salem Investment Counselors Inc. now owns 332,955 shares of the company's stock valued at $3,892,000 after buying an additional 213,150 shares in the last quarter. 58.68% of the stock is currently owned by institutional investors.

More QXO News

Here's some of the latest news about QXO:

• Positive Sentiment: Third-quarter revenue climbed 79.4% year over year to about $4.9 billion, exceeding analyst expectations, and gross profit increased substantially. The company also reported adjusted EPS of $0.13, in line with consensus. QXO reports third-quarter 2026 results
• Positive Sentiment: KeyCorp lowered its price target to $19 from $28 but maintained an “overweight” rating, indicating it still sees substantial potential upside from the shares’ recent level. KeyCorp rating and price target
• Positive Sentiment: A Sound Shore Management investor letter characterized QXO’s discount to peers as an investment opportunity, offering a favorable valuation perspective. Peer discount creates compelling opportunity at QXO

QXO Company Profile

QXO, Inc. is a distributor of building products serving contractors and other customers in the construction industry. Its offerings include roofing materials, waterproofing products and complementary building supplies for residential and commercial projects. QXO expanded its business through its acquisition of Beacon Roofing Supply in 2025, bringing Beacon's distribution network and product expertise into the company. Beacon serves customers across the United States and Canada. QXO is led by Chairman and Chief Executive Officer Brad Jacobs, an entrepreneur whose previous leadership roles include executive positions at XPO and United Rentals.

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