QXO (NYSE:QXO) Shares Gap Up - Here's Why

Key Points

• QXO shares jumped: The stock opened at $12.65, up from its prior close of $11.56, and later traded at $13.114 on volume of about 4.9 million shares. The article does not identify a specific catalyst for the move.
• Analysts have a Moderate Buy consensus rating and an average price target of $24.77, though some firms recently cut their targets; ratings include 14 Buys, one Strong Buy, one Hold, and one Sell.
• QXO’s latest quarterly results met EPS estimates at $0.08 and beat revenue estimates, reporting $3.25 billion versus $3.18 billion expected. Institutional investors own 58.68% of the company’s shares.

QXO, Inc. (NYSE:QXO - Get Free Report)'s stock price gapped up before the market opened on Monday. The stock had previously closed at $11.56, but opened at $12.65. QXO shares last traded at $13.1140, with a volume of 4,930,327 shares changing hands.

Analyst Ratings Changes

QXO has been the subject of a number of research reports. Citigroup decreased their price target on shares of QXO from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, July 13th. Wall Street Zen upgraded QXO from a "strong sell" rating to a "sell" rating in a report on Saturday, July 25th. Zacks Research raised QXO from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. Royal Bank Of Canada dropped their price target on shares of QXO from $27.00 to $18.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 7th. Finally, DA Davidson set a $20.00 price target on shares of QXO in a research note on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.77.

QXO Price Performance

The firm has a 50-day moving average of $11.74 and a 200-day moving average of $17.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.29 and a current ratio of 4.11. The firm has a market capitalization of $13.99 billion, a P/E ratio of -14.96, a PEG ratio of 2.58 and a beta of 2.42.

QXO (NYSE:QXO - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates 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 analyst estimates of $3.18 billion. As a group, analysts predict that QXO, Inc. will post 0.22 EPS for the current year.

Hedge Funds Weigh In On QXO

Several hedge funds and other institutional investors have recently bought and sold shares of QXO. Finepoint Capital LP raised its position in shares of QXO by 30.7% during the 2nd quarter. Finepoint Capital LP now owns 18,113,850 shares of the company's stock valued at $313,007,000 after buying an additional 4,255,435 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in QXO by 25.9% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 5,703,964 shares of the company's stock worth $66,679,000 after acquiring an additional 1,173,274 shares in the last quarter. Spyglass Capital Management LLC purchased a new position in QXO in the second quarter worth about $62,961,000. Bank of New York Mellon Corp purchased a new position in QXO in the second quarter worth about $44,919,000. Finally, CI Investments Inc. increased its stake in QXO by 4.1% during the first quarter. CI Investments Inc. now owns 2,598,840 shares of the company's stock worth $50,469,000 after acquiring an additional 102,838 shares during the last quarter. Institutional investors own 58.68% of the company's stock.

About QXO

QXO, Inc is a distributor of building products serving contractors and other customers in the construction industry. Its offerings include roofing materials, waterproofing products and complementary building supplies for residential and commercial projects.

QXO expanded its business through its acquisition of Beacon Roofing Supply in 2025, bringing Beacon's distribution network and product expertise into the company. Beacon serves customers across the United States and Canada.

QXO is led by Chairman and Chief Executive Officer Brad Jacobs, an entrepreneur whose previous leadership roles include executive positions at XPO and United Rentals.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.