James Hambro & Partners LLP Acquires 547,042 Shares of QXO, Inc. $QXO

Key Points

• James Hambro & Partners acquired 547,042 QXO shares worth approximately $6.4 million, making up about 0.2% of its portfolio and 0.05% of QXO’s outstanding shares.
• Institutional ownership remains significant at 58.68%, with several other investment firms increasing or initiating positions during the third quarter.
• QXO shares recently traded near $10.16, close to their 52-week low, while analysts maintained a “Moderate Buy” consensus with an average price target of $25.14. The company’s latest quarterly results met EPS estimates and exceeded revenue expectations.

James Hambro & Partners LLP acquired a new position in QXO, Inc. (NYSE:QXO - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 547,042 shares of the company's stock, valued at approximately $6,398,000. QXO makes up about 0.2% of James Hambro & Partners LLP's investment portfolio, making the stock its 26th biggest position. James Hambro & Partners LLP owned about 0.05% of QXO as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QXO. Herold Advisors Inc. acquired a new position in QXO during the 3rd quarter valued at about $160,000. LexAurum Advisors LLC raised its stake in QXO by 65.3% in the third quarter. LexAurum Advisors LLC now owns 28,524 shares of the company's stock valued at $333,000 after buying an additional 11,273 shares during the last quarter. First Bank & Trust boosted its holdings in QXO by 28.0% in the third quarter. First Bank & Trust now owns 19,262 shares of the company's stock worth $225,000 after acquiring an additional 4,215 shares in the last quarter. Narus Financial Partners LLC acquired a new stake in QXO in the third quarter worth about $118,000. Finally, Align Financial LLC acquired a new stake in QXO in the third quarter worth about $43,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. KeyCorp dropped their price target on QXO from $32.00 to $28.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 1st. Melius Research initiated coverage on shares of QXO in a research report on Tuesday, October 6th. They issued a "buy" rating and a $17.00 price objective for the company. Morgan Stanley began coverage on shares of QXO in a research report on Tuesday, August 4th. They issued an "overweight" rating and a $35.00 price objective for the company. Weiss Ratings reiterated a "sell (d)" rating on shares of QXO in a research note on Wednesday, August 26th. Finally, Citigroup dropped their target price on shares of QXO from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $25.14.

QXO Stock Performance

Shares of QXO stock traded down $0.69 during mid-day trading on Monday, reaching $10.16. The stock had a trading volume of 9,830,883 shares, compared to its average volume of 16,267,946. The business's fifty day moving average is $12.68 and its 200-day moving average is $15.73. The company has a current ratio of 4.11, a quick ratio of 3.29 and a debt-to-equity ratio of 0.66. The firm has a market cap of $10.55 billion, a price-to-earnings ratio of -11.27, a PEG ratio of 2.21 and a beta of 2.30. QXO, Inc. has a 1-year low of $10.15 and a 1-year high of $27.61.

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