Oppenheimer & Co. Inc. raised its holdings in shares of QXO, Inc. (NASDAQ:QXO - Free Report) by 27.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,180 shares of the company's stock after purchasing an additional 18,423 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in QXO were worth $1,153,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Praxis Investment Management Inc. acquired a new position in QXO in the first quarter worth about $156,000. Parallel Advisors LLC lifted its position in shares of QXO by 62.2% in the 1st quarter. Parallel Advisors LLC now owns 11,570 shares of the company's stock worth $157,000 after buying an additional 4,439 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of QXO in the 4th quarter valued at about $159,000. Invesco Ltd. bought a new stake in shares of QXO during the 4th quarter valued at about $164,000. Finally, Janney Montgomery Scott LLC acquired a new stake in QXO during the first quarter worth about $200,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. William Blair assumed coverage on QXO in a research report on Wednesday, June 18th. They set an "outperform" rating on the stock. Oppenheimer started coverage on shares of QXO in a research report on Wednesday, June 11th. They set an "outperform" rating and a $27.00 price target for the company. Robert W. Baird began coverage on shares of QXO in a research report on Thursday, June 12th. They issued an "outperform" rating and a $32.00 price objective on the stock. Wolfe Research initiated coverage on shares of QXO in a research note on Friday, June 6th. They set an "outperform" rating and a $44.00 target price for the company. Finally, Baird R W upgraded shares of QXO to a "strong-buy" rating in a research report on Thursday, June 12th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $34.33.
Check Out Our Latest Report on QXO
QXO Stock Up 3.9%
NASDAQ QXO traded up $0.81 on Monday, reaching $21.54. 11,160,623 shares of the stock traded hands, compared to its average volume of 3,899,849. QXO, Inc. has a 12 month low of $10.61 and a 12 month high of $157.28. The company has a market cap of $12.46 billion, a price-to-earnings ratio of -2.36, a P/E/G ratio of 4.09 and a beta of 2.38. The firm's fifty day simple moving average is $17.12 and its 200 day simple moving average is $15.08.
QXO Profile
(
Free Report)
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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