QXO, Inc. $QXO Shares Newly Acquired by Leeward Investments LLC MA

Key Points

• Leeward Investments LLC MA acquired 487,375 QXO shares in the third quarter, worth approximately $5.7 million. Institutional investors collectively own 58.68% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $24.77, despite several recent target-price reductions.
• QXO shares opened at $10.48, near their 52-week low of $10.03. In its latest quarter, the company met EPS estimates at $0.08 and reported revenue of $3.25 billion, above expectations.

Leeward Investments LLC MA bought a new stake in QXO, Inc. (NYSE:QXO - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 487,375 shares of the company's stock, valued at approximately $5,697,000.

Other large investors also recently made changes to their positions in the company. Root Financial Partners LLC grew its position in shares of QXO by 73,350.0% in the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company's stock valued at $29,000 after purchasing an additional 1,467 shares during the period. NFSG Corp increased its stake in shares of QXO by 39.6% during the 1st quarter. NFSG Corp now owns 2,198 shares of the company's stock valued at $43,000 after acquiring an additional 623 shares during the last quarter. Whipplewood Advisors LLC increased its stake in shares of QXO by 12,604.8% during the 1st quarter. Whipplewood Advisors LLC now owns 2,668 shares of the company's stock valued at $52,000 after acquiring an additional 2,647 shares during the last quarter. Signaturefd LLC raised its stake in QXO by 166.6% during the third quarter. Signaturefd LLC now owns 2,973 shares of the company's stock worth $35,000 after purchasing an additional 1,858 shares during the period. Finally, Hartford Financial Management Inc. raised its position in shares of QXO by 59.1% in the 3rd quarter. Hartford Financial Management Inc. now owns 3,500 shares of the company's stock worth $41,000 after buying an additional 1,300 shares during the period. Hedge funds and other institutional investors own 58.68% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on QXO. Morgan Stanley started coverage on shares of QXO in a report on Tuesday, August 4th. They issued an "overweight" rating and a $35.00 price target on the stock. KeyCorp dropped their price objective on shares of QXO from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Wednesday, July 1st. Citigroup cut their target price on shares of QXO from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, July 13th. Wells Fargo & Company reduced their target price on shares of QXO from $16.00 to $15.00 and set an "overweight" rating on the stock in a report on Friday, October 16th. Finally, Truist Financial decreased their price target on shares of QXO from $26.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, QXO presently has a consensus rating of "Moderate Buy" and an average target price of $24.77.

QXO Stock Down 0.3%

Shares of NYSE:QXO opened at $10.48 on Tuesday. The company has a quick ratio of 3.29, a current ratio of 4.11 and a debt-to-equity ratio of 0.66. QXO, Inc. has a 52-week low of $10.03 and a 52-week high of $27.61. The company has a 50 day moving average of $12.24 and a two-hundred day moving average of $17.68. The company has a market capitalization of $10.87 billion, a price-to-earnings ratio of 87.58, a price-to-earnings-growth ratio of 2.21 and a beta of 2.30.

QXO (NYSE:QXO - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.08. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. As a group, analysts forecast that QXO, Inc. will post 0.24 earnings per share for the current fiscal 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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