189,055 QXO, Inc. $QXO Shares Acquired by Investment House LLC

Key Points

• Investment House LLC increased its QXO stake by 28.4% in the third quarter, acquiring 189,055 additional shares and bringing its holdings to 855,460 shares. Institutional investors collectively own 58.68% of QXO.
• Analyst sentiment is broadly positive, with QXO carrying a “Moderate Buy” consensus rating and an average price target of $24.77, despite ratings ranging from “Strong Buy” to “Sell.”
• QXO shares opened at $11.04, well below their 12-month high of $27.61. In its latest quarter, the company met EPS expectations at $0.08 and reported revenue of $3.25 billion, exceeding estimates.

Investment House LLC lifted its holdings in QXO, Inc. (NYSE:QXO - Free Report) by 28.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 855,460 shares of the company's stock after acquiring an additional 189,055 shares during the quarter. Investment House LLC owned approximately 0.08% of QXO worth $10,000,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. E. Ohman J or Asset Management AB bought a new position in shares of QXO in the 3rd quarter valued at about $14,050,000. SBI Securities Co. Ltd. lifted its stake in QXO by 241.3% in the third quarter. SBI Securities Co. Ltd. now owns 6,849 shares of the company's stock valued at $80,000 after buying an additional 4,842 shares during the period. Hartford Financial Management Inc. raised its holdings in QXO by 59.1% in the third quarter. Hartford Financial Management Inc. now owns 3,500 shares of the company's stock worth $41,000 after purchasing an additional 1,300 shares during the period. Skylands Capital LLC bought a new position in shares of QXO during the third quarter worth $1,343,000. Finally, Hosking Partners LLP acquired a new position in shares of QXO in the 3rd quarter valued at $3,880,000. Institutional investors own 58.68% of the company's stock.

Wall Street Analysts Forecast Growth

QXO has been the topic of several research analyst reports. Benchmark reaffirmed a "buy" rating on shares of QXO in a research note on Friday, August 14th. Melius Research began coverage on QXO in a research note on Tuesday, October 6th. They issued a "buy" rating and a $17.00 target price for the company. Weiss Ratings reissued a "sell (d)" rating on shares of QXO in a research note on Wednesday, August 26th. Truist Financial lowered their price target on QXO from $26.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, October 8th. Finally, Zacks Research raised QXO from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, QXO currently has an average rating of "Moderate Buy" and an average target price of $24.77.

QXO Stock Up 7.1%

QXO stock opened at $11.04 on Friday. The stock has a market capitalization of $11.46 billion, a PE ratio of -12.27, a price-to-earnings-growth ratio of 2.17 and a beta of 2.30. QXO, Inc. has a twelve month low of $10.03 and a twelve month high of $27.61. 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 company has a 50 day moving average of $12.30 and a 200-day moving average of $15.48.

QXO (NYSE:QXO - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates of $0.08. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 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, Inc. will post 0.24 EPS for the current fiscal year.

QXO Company Profile

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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