Northcoast Research Initiates Coverage on QXO (NYSE:QXO)

Key Points

• Northcoast Research initiated coverage of QXO with a “neutral” rating. Across analysts, the stock has a “Moderate Buy” consensus and an average price target of $24.77.
• Analyst views vary: Truist cut its price target to $15 while keeping a “buy” rating, whereas Morgan Stanley set a $35 target and an “overweight” rating.
• QXO shares traded at $13.38 on Thursday. In its latest reported quarter, the company met the earnings estimate at $0.08 per share and reported revenue of $3.25 billion, above expectations.

Northcoast Research initiated coverage on shares of QXO (NYSE:QXO - Get Free Report) in a research note issued to investors on Thursday, Briefing.com reports. The brokerage set a "neutral" rating on the stock.

Other research analysts have also recently issued reports about the stock. Wall Street Zen raised shares of QXO from a "strong sell" rating to a "sell" rating in a report on Saturday, July 25th. Truist Financial cut their price target on QXO from $26.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, October 8th. Benchmark reissued a "buy" rating on shares of QXO in a research report on Friday, August 14th. Morgan Stanley assumed coverage on QXO in a research note on Tuesday, August 4th. They set an "overweight" rating and a $35.00 price objective on the stock. Finally, Melius Research initiated coverage on shares of QXO in a research report on Tuesday, October 6th. They set a "buy" rating and a $17.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, QXO currently has an average rating of "Moderate Buy" and an average target price of $24.77.

QXO Stock Performance

Shares of QXO traded down $0.43 during trading hours on Thursday, hitting $13.38. The company had a trading volume of 3,476,813 shares, compared to its average volume of 16,476,855. The firm has a market cap of $13.88 billion, a price-to-earnings ratio of -14.89, a PEG ratio of 3.06 and a beta of 2.42. 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 fifty day moving average of $11.78 and a 200-day moving average of $16.87. QXO has a 12 month low of $10.03 and a 12 month high of $27.61.

QXO (NYSE:QXO - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $3.25 billion for the quarter, compared to analysts' expectations of $3.18 billion. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. Equities analysts anticipate that QXO will post 0.22 EPS for the current fiscal year.

Institutional Trading of QXO

Several hedge funds and other institutional investors have recently made changes to their positions in the company. 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 buying an additional 102,838 shares during the period. Gainplan LLC grew its position in shares of 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 buying an additional 399,605 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its stake in shares of QXO by 25.9% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 5,703,964 shares of the company's stock valued at $66,679,000 after buying an additional 1,173,274 shares during the period. Hudson Value Partners LLC increased its stake in shares of QXO by 87.6% in the second quarter. Hudson Value Partners LLC now owns 215,998 shares of the company's stock valued at $3,732,000 after buying an additional 100,856 shares during the period. Finally, Salem Investment Counselors Inc. increased its stake in shares of QXO by 177.9% in the third 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 during the period. 58.68% of the stock is currently owned by institutional investors.

About QXO

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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