QXO (NYSE:QXO) Stock Price Target Cut by KeyCorp

Key Points

• KeyCorp cut its QXO price target to $19 from $28 but maintained an “overweight” rating, implying 48.23% upside from the current share price.
• Analyst sentiment remains broadly positive: QXO has a “Moderate Buy” consensus rating and an average price target of $24.08, despite target reductions from several firms.
• QXO shares were reported down 7.2%. Quarterly EPS matched estimates and revenue topped expectations, though the company recorded a $123 million net loss.

QXO (NYSE:QXO - Get Free Report) had its price target dropped by analysts at KeyCorp from $28.00 to $19.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price objective indicates a potential upside of 48.23% from the stock's current price.

Several other analysts have also issued reports on QXO. Wells Fargo & Company dropped their price target on shares of QXO from $16.00 to $15.00 and set an "overweight" rating on the stock in a research report on Friday, October 16th. Benchmark reissued a "buy" rating on shares of QXO in a research report on Friday, August 14th. Royal Bank Of Canada decreased their price objective on shares of QXO from $27.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, October 7th. Northcoast Research initiated coverage on shares of QXO in a research note on Thursday. They set a "neutral" rating on the stock. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of QXO in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.08.

QXO Trading Down 7.2%

NYSE QXO opened at $12.82 on Friday. The company has a market cap of $13.30 billion, a PE ratio of -14.24, a PEG ratio of 3.08 and a beta of 2.42. The company has a current ratio of 4.11, a quick ratio of 3.29 and a debt-to-equity ratio of 0.66. QXO has a 12 month low of $10.03 and a 12 month high of $27.61. The stock has a 50 day moving average of $11.77 and a 200-day moving average of $16.82.

QXO (NYSE:QXO - Get Free Report) last released its earnings results on Thursday, November 12th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $4.89 billion during the quarter, compared to analysts' expectations of $4.86 billion. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. On average, equities research analysts anticipate that QXO will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On QXO

A number of large investors have recently modified their holdings of QXO. NFSG Corp raised its holdings in shares of QXO by 39.6% during the 1st quarter. NFSG Corp now owns 2,198 shares of the company's stock worth $43,000 after buying an additional 623 shares in the last quarter. First Bank & Trust lifted its position in shares of QXO by 7.3% during the 2nd quarter. First Bank & Trust now owns 15,047 shares of the company's stock worth $260,000 after buying an additional 1,026 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in QXO by 7.2% in the third quarter. Valeo Financial Advisors LLC now owns 15,860 shares of the company's stock valued at $185,000 after buying an additional 1,062 shares in the last quarter. Composition Wealth LLC boosted its stake in QXO by 1.8% in the third quarter. Composition Wealth LLC now owns 62,710 shares of the company's stock valued at $733,000 after buying an additional 1,118 shares in the last quarter. Finally, Laidlaw Wealth Management LLC boosted its stake in QXO by 7.6% in the second quarter. Laidlaw Wealth Management LLC now owns 16,150 shares of the company's stock valued at $279,000 after buying an additional 1,145 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company's stock.

Key Stories Impacting QXO

Investors following QXO have been watching these stories:

• Positive Sentiment: A report highlights homebuilders as a key source of future growth for QXO, offering a potential longer-term growth narrative. QXO and homebuilder growth
• Neutral Sentiment: Northcoast Research initiated coverage with a “neutral” rating, providing a new analyst view but no strong directional endorsement. Northcoast Research coverage
• Negative Sentiment: Despite its revenue growth, QXO recorded a $123 million net loss and only $1 million in operating cash flow for the quarter. Higher liabilities and continued profitability concerns may have overshadowed the sales beat. QXO third-quarter results

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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