QXO (NASDAQ:QXO) Rating Increased to Strong-Buy at Baird R W

QXO (NASDAQ:QXO - Get Free Report) was upgraded by investment analysts at Baird R W to a "strong-buy" rating in a research report issued on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on QXO. Oppenheimer started coverage on QXO in a research report on Wednesday. They issued an "outperform" rating and a $27.00 target price for the company. Robert W. Baird initiated coverage on QXO in a report on Thursday. They issued an "outperform" rating and a $32.00 price objective for the company. Finally, Wolfe Research started coverage on shares of QXO in a research report on Friday, June 6th. They set an "outperform" rating and a $44.00 target price on the stock.

QXO Stock Performance

NASDAQ QXO traded down $0.53 during trading hours on Thursday, hitting $19.58. The company had a trading volume of 5,100,308 shares, compared to its average volume of 3,132,132. The business has a 50 day moving average of $15.29 and a 200-day moving average of $14.72. The company has a market cap of $11.32 billion, a PE ratio of -2.15, a price-to-earnings-growth ratio of 4.09 and a beta of 2.38. QXO has a 1-year low of $10.61 and a 1-year high of $169.01.

Institutional Investors Weigh In On QXO

Hedge funds have recently made changes to their positions in the business. Advyzon Investment Management LLC purchased a new stake in QXO during the 4th quarter valued at approximately $527,000. Blair William & Co. IL purchased a new stake in shares of QXO during the fourth quarter worth approximately $229,000. Barclays PLC acquired a new stake in shares of QXO during the fourth quarter worth $1,168,000. Pittenger & Anderson Inc. lifted its holdings in shares of QXO by 4,376.7% during the fourth quarter. Pittenger & Anderson Inc. now owns 20,145 shares of the company's stock worth $320,000 after purchasing an additional 19,695 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new position in QXO in the 4th quarter valued at $2,099,000. Institutional investors and hedge funds own 58.68% of the company's stock.

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.