Horizon Advisory Services Inc. Buys Shares of 11,800 QXO, Inc. (NASDAQ:QXO)

Horizon Advisory Services Inc. bought a new stake in QXO, Inc. (NASDAQ:QXO - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 11,800 shares of the company's stock, valued at approximately $160,000.

Other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in shares of QXO by 57.4% during the first quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company's stock worth $38,000 after buying an additional 1,017 shares in the last quarter. Bessemer Group Inc. acquired a new position in QXO in the first quarter valued at approximately $52,000. Praxis Investment Management Inc. purchased a new stake in QXO in the first quarter valued at approximately $156,000. Parallel Advisors LLC lifted its stake 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 buying an additional 4,439 shares during the last quarter. Finally, Toronto Dominion Bank purchased a new stake in QXO in the fourth quarter valued at approximately $159,000. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Price Performance

QXO stock opened at $21.20 on Friday. QXO, Inc. has a 12 month low of $10.61 and a 12 month high of $157.28. The business has a 50 day simple moving average of $18.84 and a 200-day simple moving average of $15.48. The stock has a market capitalization of $12.30 billion, a PE ratio of -2.32, a price-to-earnings-growth ratio of 4.09 and a beta of 2.41.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Baird R W upgraded QXO to a "strong-buy" rating in a research note on Thursday, June 12th. Truist Financial assumed coverage on QXO in a research note on Tuesday, July 1st. They issued a "buy" rating and a $30.00 price objective for the company. Wolfe Research assumed coverage on QXO in a research note on Friday, June 6th. They issued an "outperform" rating and a $44.00 price objective for the company. Robert W. Baird started coverage on QXO in a research note on Thursday, June 12th. They issued an "outperform" rating and a $32.00 price objective for the company. Finally, William Blair started coverage on QXO in a research note on Wednesday, June 18th. They set an "outperform" rating for the company. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $33.25.

About QXO

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.

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