First Bank & Trust Buys New Position in QXO, Inc. (NASDAQ:QXO)

First Bank & Trust bought a new position in QXO, Inc. (NASDAQ:QXO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,318 shares of the company's stock, valued at approximately $194,000.

Other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. purchased a new position in QXO in the first quarter valued at about $52,000. Praxis Investment Management Inc. bought a new stake in shares of QXO in the first quarter worth $156,000. Parallel Advisors LLC raised its holdings in QXO by 62.2% in the first quarter. Parallel Advisors LLC now owns 11,570 shares of the company's stock valued at $157,000 after acquiring an additional 4,439 shares in the last quarter. Toronto Dominion Bank bought a new position in QXO during the 4th quarter valued at $159,000. Finally, Invesco Ltd. acquired a new stake in shares of QXO in the 4th quarter valued at about $164,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on QXO shares. Baird R W upgraded QXO to a "strong-buy" rating in a research note on Thursday, June 12th. Robert W. Baird initiated coverage on shares of QXO in a research note on Thursday, June 12th. They set an "outperform" rating and a $32.00 target price for the company. Oppenheimer assumed coverage on shares of QXO in a research note on Wednesday, June 11th. They issued an "outperform" rating and a $27.00 price target on the stock. William Blair assumed coverage on QXO in a research report on Wednesday, June 18th. They set an "outperform" rating for the company. Finally, Wolfe Research started coverage on QXO in a research report on Friday, June 6th. They set an "outperform" rating and a $44.00 price target for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $33.25.

QXO Stock Performance

Shares of QXO stock traded up $0.36 during midday trading on Friday, reaching $21.95. 6,105,852 shares of the company's stock traded hands, compared to its average volume of 4,013,571. QXO, Inc. has a 52 week low of $10.61 and a 52 week high of $157.28. The company's 50 day simple moving average is $17.84 and its 200 day simple moving average is $15.24. The company has a market cap of $12.74 billion, a price-to-earnings ratio of -2.41, a price-to-earnings-growth ratio of 4.09 and a beta of 2.41.

QXO Company 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.