QXO, Inc. $QXO Shares Acquired by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. increased its stake in QXO by 16,117.6%, purchasing an additional 14,644,305 shares to own 14,735,164 shares (about 2.18% of the company) valued at $284.24 million at quarter-end.
• QXO reported a Q4 EPS of $0.02—missing estimates by $0.01—with a negative net margin of 4.08% despite revenue jumping ~14,725% year-over-year; the stock trades with a market cap of $15.61 billion, a negative PE of 37.27, and a 52-week range of $11.97–$27.61.
• Institutional investors hold 58.68% of QXO, and analyst coverage skews positive with a "Moderate Buy" consensus and an average target price of $32.13, including recent "outperform"/"buy" ratings from several firms.

Baillie Gifford & Co. boosted its stake in shares of QXO, Inc. (NYSE:QXO - Free Report) by 16,117.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,735,164 shares of the company's stock after purchasing an additional 14,644,305 shares during the quarter. Baillie Gifford & Co. owned approximately 2.18% of QXO worth $284,241,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. E&G Advisors LP acquired a new position in QXO during the 4th quarter worth $196,000. Brown Miller Wealth Management LLC lifted its holdings in shares of QXO by 3.8% during the fourth quarter. Brown Miller Wealth Management LLC now owns 52,489 shares of the company's stock valued at $1,013,000 after purchasing an additional 1,942 shares during the last quarter. TT International Asset Management LTD purchased a new stake in shares of QXO during the fourth quarter valued at $207,000. Diversify Advisory Services LLC purchased a new stake in shares of QXO during the fourth quarter valued at $166,000. Finally, Carnegie Investment Counsel purchased a new stake in shares of QXO during the fourth quarter valued at $4,309,000. Institutional investors and hedge funds own 58.68% of the company's stock.

QXO Stock Performance

QXO opened at $21.99 on Monday. The stock has a 50-day moving average of $22.13 and a 200-day moving average of $20.90. QXO, Inc. has a 52-week low of $11.97 and a 52-week high of $27.61. The company has a market cap of $15.61 billion, a PE ratio of -37.27, a price-to-earnings-growth ratio of 3.40 and a beta of 2.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58.

QXO (NYSE:QXO - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. QXO's revenue was up 14725.0% compared to the same quarter last year. As a group, equities research analysts forecast that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on QXO shares. BNP Paribas Exane initiated coverage on QXO in a report on Monday, March 16th. They set an "outperform" rating and a $30.00 target price for the company. Weiss Ratings restated a "sell (d+)" rating on shares of QXO in a research note on Monday, December 29th. Royal Bank Of Canada lowered their target price on QXO from $30.00 to $28.00 and set an "outperform" rating on the stock in a research note on Monday, April 6th. Benchmark restated a "buy" rating on shares of QXO in a research note on Friday, February 20th. Finally, Truist Financial lowered their target price on QXO from $28.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, QXO currently has an average rating of "Moderate Buy" and an average target price of $32.13.

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. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.

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