Strs Ohio Increases Stock Position in QXO, Inc. $QXO

Key Points

• Strs Ohio increased its stake in QXO by 369.9% in Q4, buying 54,026 shares to hold 68,633 shares valued at about $1.324 million.
• Analyst sentiment is positive with a consensus rating of “Moderate Buy” and a consensus price target of $32.53, backed by multiple buy/outperform revisions from major firms.
• QXO missed quarterly EPS (reported $0.02 vs. $0.03 expected) and showed a negative net margin (-4.08%) despite a huge year-over-year revenue jump, while shares trade around $19.73 with a market cap of about $14.3 billion.

Strs Ohio increased its holdings in shares of QXO, Inc. (NYSE:QXO - Free Report) by 369.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,633 shares of the company's stock after purchasing an additional 54,026 shares during the period. Strs Ohio's holdings in QXO were worth $1,324,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Bogart Wealth LLC purchased a new stake in QXO during the third quarter worth $25,000. Newbridge Financial Services Group Inc. increased its holdings in shares of QXO by 57.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company's stock valued at $30,000 after acquiring an additional 575 shares during the period. Russell Investments Group Ltd. bought a new position in shares of QXO in the 2nd quarter worth $30,000. WPG Advisers LLC bought a new position in shares of QXO in the 3rd quarter worth $35,000. Finally, Allworth Financial LP lifted its stake in shares of QXO by 66.9% during the 3rd quarter. Allworth Financial LP now owns 2,028 shares of the company's stock worth $39,000 after purchasing an additional 813 shares during the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QXO has been the topic of a number of recent research reports. KeyCorp raised their price objective on QXO from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Monday, April 20th. Benchmark reiterated a "buy" rating on shares of QXO in a report on Friday, February 20th. Citigroup decreased their price target on shares of QXO from $33.00 to $31.00 and set a "buy" rating for the company in a research report on Thursday, January 8th. Royal Bank Of Canada lowered their price target on shares of QXO from $30.00 to $28.00 and set an "outperform" rating on the stock in a report on Monday, April 6th. Finally, Oppenheimer lifted their price objective on shares of QXO from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $32.53.

QXO Stock Up 4.6%

Shares of QXO stock opened at $19.73 on Thursday. The stock's fifty day moving average price is $21.16 and its 200 day moving average price is $21.17. QXO, Inc. has a 1-year low of $13.30 and a 1-year high of $27.61. The company has a market cap of $14.31 billion, a price-to-earnings ratio of -33.45, a price-to-earnings-growth ratio of 3.09 and a beta of 2.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.61.

QXO (NYSE:QXO - Get Free Report) last released its quarterly earnings results on Friday, February 27th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. The firm's quarterly revenue was up 14725.0% compared to the same quarter last year. On average, research analysts expect that QXO, Inc. will post 0.31 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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