Investors Buy Large Volume of QXO Call Options (NYSE:QXO)

Key Points

• QXO call-option activity surged: Traders purchased 224,501 call options, roughly 753% above the typical volume of 26,308 contracts.
• Analysts remain broadly positive but have lowered targets: QXO has a consensus “Moderate Buy” rating and an average price target of $29.71, despite several recent target cuts.
• Shares declined to $13.33: The stock is near its 52-week low of $13.15 and below both its 50-day and 200-day moving averages. QXO’s latest quarterly results met EPS expectations at $0.08 and exceeded revenue forecasts with $3.25 billion in sales.

QXO, Inc. (NYSE:QXO - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Stock traders purchased 224,501 call options on the stock. This represents an increase of approximately 753% compared to the typical volume of 26,308 call options.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stephens reduced their price target on QXO from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Thursday, May 14th. Citigroup reduced their price target on shares of QXO from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, July 13th. Wall Street Zen upgraded QXO from a "strong sell" rating to a "sell" rating in a research report on Saturday, July 25th. Robert W. Baird dropped their target price on QXO from $35.00 to $30.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of QXO in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $29.71.

QXO Stock Performance

Shares of QXO stock traded down $0.78 during trading on Thursday, reaching $13.33. The company's stock had a trading volume of 10,423,143 shares, compared to its average volume of 15,427,881. QXO has a fifty-two week low of $13.15 and a fifty-two week high of $27.61. The company has a 50-day moving average price of $15.37 and a two-hundred day moving average price of $18.78. The company has a current ratio of 4.11, a quick ratio of 2.47 and a debt-to-equity ratio of 0.66. The firm has a market cap of $13.83 billion, a PE ratio of -14.81, a P/E/G ratio of 2.33 and a beta of 2.28.

QXO (NYSE:QXO - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%.The business had revenue of $3.25 billion during the quarter, compared to analysts' expectations of $3.18 billion. On average, analysts forecast that QXO will post 0.29 EPS for the current year.

Institutional Trading of QXO

A number of institutional investors and hedge funds have recently made changes to their positions in QXO. Arax Advisory Partners acquired a new stake in QXO in the 4th quarter valued at about $25,000. Russell Investments Group Ltd. acquired a new stake in shares of QXO in the second quarter worth about $30,000. Root Financial Partners LLC grew its holdings in QXO by 73,350.0% during 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 last quarter. LRI Investments LLC lifted its stake in shares of QXO by 129.1% in the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company's stock worth $29,000 after buying an additional 835 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of QXO by 42.4% during the 4th quarter. NewEdge Advisors LLC now owns 1,680 shares of the company's stock worth $32,000 after buying an additional 500 shares during the period. 58.68% of the stock is currently owned by institutional investors and hedge funds.

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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