Eschler Asset Management LLP Makes New $812,000 Investment in QXO, Inc. $QXO

Key Points

• Eschler Asset Management LLP has invested approximately $812,000 in QXO, Inc., acquiring 60,000 shares, making QXO about 2% of their portfolio.
• Prominent analysts have recently upgraded QXO stock, with Zacks Research giving it a "strong-buy" rating and Morgan Stanley setting a price target of $35.00.
• The market capitalization of QXO, Inc. is around $13.84 billion, with a 52-week stock range between $11.85 and $24.69.

Eschler Asset Management LLP acquired a new position in QXO, Inc. (NASDAQ:QXO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 60,000 shares of the company's stock, valued at approximately $812,000. QXO comprises about 2.0% of Eschler Asset Management LLP's holdings, making the stock its 18th biggest holding.

A number of other hedge funds have also bought and sold shares of the company. Affinity Partners GP LP acquired a new position in shares of QXO during the fourth quarter valued at about $260,941,000. Vanguard Group Inc. increased its position in shares of QXO by 146.1% during the 1st quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company's stock worth $334,539,000 after purchasing an additional 14,667,571 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of QXO in the 4th quarter valued at about $9,796,000. Catawba River Capital purchased a new stake in QXO during the first quarter worth approximately $6,635,000. Finally, Pacer Advisors Inc. acquired a new position in QXO during the first quarter worth approximately $6,534,000. Institutional investors own 58.68% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on QXO. Stephens assumed coverage on QXO in a research note on Wednesday, August 13th. They issued an "overweight" rating and a $29.00 target price for the company. Baird R W upgraded QXO to a "strong-buy" rating in a report on Thursday, June 12th. Wells Fargo & Company began coverage on QXO in a research note on Tuesday, August 5th. They issued an "overweight" rating and a $30.00 target price on the stock. Royal Bank Of Canada initiated coverage on QXO in a research note on Monday, July 21st. They set an "outperform" rating and a $33.00 price target on the stock. Finally, Robert W. Baird assumed coverage on QXO in a research report on Thursday, June 12th. They issued an "outperform" rating and a $32.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. According to MarketBeat.com, QXO has a consensus rating of "Buy" and an average target price of $33.73.

QXO Stock Performance

NASDAQ:QXO traded down $0.52 during trading hours on Tuesday, reaching $21.44. The company's stock had a trading volume of 4,400,477 shares, compared to its average volume of 6,002,384. The firm has a 50-day simple moving average of $20.87 and a 200-day simple moving average of $17.33. QXO, Inc. has a 1 year low of $11.85 and a 1 year high of $24.69. The firm has a market capitalization of $14.44 billion, a price-to-earnings ratio of -2.35, a PEG ratio of 4.09 and a beta of 2.35.

QXO Profile

QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.