QXO, Inc. (NYSE:QXO) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• QXO has a consensus analyst rating of “Moderate Buy”, based on coverage from 17 brokerages. Of those, 15 rate it a buy while 2 recommend selling, and the average 12-month price target is about $30.79.
• Recent analyst updates were mixed: Citigroup, KeyCorp, and Stephens all cut their price targets, while Oppenheimer raised its target to $32 and kept an outperform rating.
• The stock closed at $15.02 after rising slightly, but it remains well below its 52-week high of $27.61. QXO also reported a quarterly EPS miss, posting -$0.12 versus estimates of -$0.09.

QXO, Inc. (NYSE:QXO - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seventeen brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $30.7857.

Several analysts have recently issued reports on the stock. Citigroup dropped their target price on shares of QXO from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Friday, May 15th. KeyCorp reduced their price target 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. Stephens decreased their price target on shares of QXO from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Thursday, May 14th. Oppenheimer boosted their price objective on QXO from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, April 27th. Finally, Wall Street Zen raised QXO from a "strong sell" rating to a "sell" rating in a report on Sunday, May 17th.

QXO Stock Performance

NYSE:QXO traded up $0.43 during trading hours on Friday, reaching $15.02. The company had a trading volume of 37,792,134 shares, compared to its average volume of 26,290,496. QXO has a 1-year low of $13.82 and a 1-year high of $27.61. The firm has a market cap of $10.89 billion, a PE ratio of -16.50, a price-to-earnings-growth ratio of 3.84 and a beta of 2.23. The business's 50 day moving average price is $16.91 and its 200-day moving average price is $20.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47.

QXO (NYSE:QXO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.03). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The firm's revenue for the quarter was up 12716.3% on a year-over-year basis. Research analysts forecast that QXO will post 0.2 EPS for the current year.

Institutional Trading of QXO

Several large investors have recently added to or reduced their stakes in QXO. Sunbelt Securities Inc. lifted its holdings in shares of QXO by 6.8% during the 4th quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company's stock worth $122,000 after acquiring an additional 400 shares during the period. Cherry Creek Investment Advisors Inc. increased its stake in QXO by 0.6% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company's stock valued at $1,633,000 after acquiring an additional 474 shares during the period. NewEdge Advisors LLC increased its stake in QXO by 42.4% in the fourth quarter. NewEdge Advisors LLC now owns 1,680 shares of the company's stock valued at $32,000 after acquiring an additional 500 shares during the period. Maple Capital Management Inc. increased its stake in QXO by 4.7% in the fourth quarter. Maple Capital Management Inc. now owns 11,988 shares of the company's stock valued at $231,000 after acquiring an additional 543 shares during the period. Finally, Allworth Financial LP raised its position in QXO by 27.2% in the fourth quarter. Allworth Financial LP now owns 2,580 shares of the company's stock worth $50,000 after purchasing an additional 552 shares in the last quarter. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

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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