QXO, Inc. $QXO Shares Acquired by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC increased its stake in QXO by 36% in Q3, buying 293,351 shares to hold 1,108,631 shares (about 0.16% of the company) worth roughly $21.13 million.
• Analyst sentiment is broadly positive with a consensus rating of “Moderate Buy” and a $32.43 consensus target (majority Buy ratings), though opinions diverge including a lone Sell from Weiss Ratings.
• QXO recently reported a slight EPS miss ($0.02 vs. $0.03 expected) with revenue in line at $2.19 billion; the stock trades around $21.86, has a market cap of $15.49 billion, and a negative PE ratio.

Neuberger Berman Group LLC lifted its stake in shares of QXO, Inc. (NYSE:QXO - Free Report) by 36.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,108,631 shares of the company's stock after purchasing an additional 293,351 shares during the quarter. Neuberger Berman Group LLC owned about 0.16% of QXO worth $21,131,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Bogart Wealth LLC purchased a new position in QXO in the 3rd quarter valued at $25,000. Allworth Financial LP raised its position in QXO by 1,740.9% during the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company's stock worth $26,000 after buying an additional 1,149 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of QXO in the 2nd quarter worth $28,000. Russell Investments Group Ltd. acquired a new stake in shares of QXO in the 2nd quarter worth $30,000. Finally, GAMMA Investing LLC purchased a new stake in shares of QXO in the third quarter valued at about $31,000. 58.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on QXO shares. Loop Capital initiated coverage on shares of QXO in a research note on Thursday, December 11th. They set a "buy" rating and a $31.00 price target on the stock. William Blair restated an "outperform" rating on shares of QXO in a research report on Wednesday, December 31st. Royal Bank Of Canada set a $30.00 target price on QXO in a research report on Friday, January 9th. Benchmark reissued a "buy" rating on shares of QXO in a research note on Friday, February 20th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of QXO in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, QXO currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.43.

QXO Stock Performance

Shares of QXO opened at $21.86 on Friday. The company has a quick ratio of 2.24, a current ratio of 3.58 and a debt-to-equity ratio of 0.37. QXO, Inc. has a 52-week low of $11.97 and a 52-week high of $27.61. The company has a 50-day simple moving average of $23.71 and a 200-day simple moving average of $21.01. The company has a market capitalization of $15.49 billion, a PE ratio of -37.05, a P/E/G ratio of 2.97 and a beta of 2.51.

QXO (NYSE:QXO - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The company had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.19 billion. QXO's quarterly revenue was up 14725.0% compared to the same quarter last year. Equities research analysts predict that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

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. 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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