QXO, Inc. (NYSE:QXO) Stock Has Average Price Target of $25.14

Key Points

• Analysts have a “Moderate Buy” consensus on QXO, with 15 buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $25.14, well above the stock’s $10.12 opening price.
• QXO shares are near their 52-week low of $10.03 and have declined below their 50-day and 200-day moving averages. The stock has a $10.5 billion market capitalization and a beta of 2.30, indicating relatively high volatility.
• QXO’s latest quarterly results met earnings expectations at $0.08 per share and exceeded revenue forecasts with $3.25 billion in sales. Institutional investors and hedge funds own 58.68% of the company, while analysts expect full-year earnings of $0.25 per share.

Shares of QXO, Inc. (NYSE:QXO - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eighteen analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $25.14.

Several research firms have recently commented on QXO. DA Davidson set a $20.00 target price on QXO in a research note on Friday, October 9th. Truist Financial cut their price target on QXO from $26.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, October 8th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of QXO in a research note on Wednesday, August 26th. Morgan Stanley started coverage on QXO in a report on Tuesday, August 4th. They issued an "overweight" rating and a $35.00 price target on the stock. Finally, Citigroup lowered their price objective on QXO from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, July 13th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC grew its position in shares of QXO by 73,350.0% during the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company's stock worth $29,000 after buying an additional 1,467 shares during the period. CoreCap Advisors LLC bought a new stake in shares of QXO during the third quarter worth approximately $41,000. Versant Capital Management Inc raised its stake in shares of QXO by 718.7% during the third quarter. Versant Capital Management Inc now owns 3,635 shares of the company's stock worth $42,000 after buying an additional 3,191 shares during the last quarter. NFSG Corp raised its stake in shares of QXO by 39.6% during the first quarter. NFSG Corp now owns 2,198 shares of the company's stock worth $43,000 after buying an additional 623 shares during the last quarter. Finally, Align Financial LLC acquired a new position in QXO in the third quarter valued at approximately $43,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

QXO Stock Performance

Shares of QXO stock opened at $10.12 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.11 and a quick ratio of 3.29. The firm has a market cap of $10.50 billion, a P/E ratio of -11.25, a P/E/G ratio of 2.21 and a beta of 2.30. The firm has a 50 day simple moving average of $12.57 and a 200 day simple moving average of $15.66. QXO has a fifty-two week low of $10.03 and a fifty-two week high of $27.61.

QXO (NYSE:QXO - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. The firm had revenue of $3.25 billion during the quarter, compared to analysts' expectations of $3.18 billion. Sell-side analysts predict that QXO will post 0.25 earnings per share for the current fiscal year.

About QXO

QXO, Inc is a building products distribution company serving professional contractors and other customers in the construction industry. Its product offerings include roofing materials, siding, windows, doors, insulation and related exterior building products.

The company operates through a network of distribution locations in the United States and Canada, providing materials, delivery services and product support to contractors and other building-industry customers. QXO's strategy is focused on expanding its presence in the building products distribution market through organic growth and acquisitions.

QXO was formerly known as SilverSun Technologies, Inc and adopted the QXO name as part of a strategic transformation led by investor Brad Jacobs.

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