QXO, Inc. (NASDAQ:QXO - Get Free Report) saw unusually-high trading volume on Friday . Approximately 9,952,321 shares changed hands during mid-day trading, an increase of 204% from the previous session's volume of 3,271,414 shares.The stock last traded at $24.53 and had previously closed at $22.50.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on QXO. Baird R W upgraded shares of QXO to a "strong-buy" rating in a research note on Thursday, June 12th. Wolfe Research initiated coverage on QXO in a report on Friday, June 6th. They set an "outperform" rating and a $44.00 target price for the company. William Blair initiated coverage on QXO in a report on Wednesday, June 18th. They issued an "outperform" rating on the stock. Robert W. Baird initiated coverage on QXO in a research report on Thursday, June 12th. They issued an "outperform" rating and a $32.00 price target for the company. Finally, Oppenheimer assumed coverage on QXO in a research report on Wednesday, June 11th. They set an "outperform" rating and a $27.00 price objective on the stock. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $34.33.
View Our Latest Research Report on QXO
QXO Price Performance
The stock's 50-day moving average is $16.27 and its 200 day moving average is $14.87. The company has a market cap of $13.91 billion, a PE ratio of -2.64, a PEG ratio of 4.09 and a beta of 2.38.
Institutional Trading of QXO
A number of institutional investors have recently made changes to their positions in QXO. Advisors Capital Management LLC increased its holdings in shares of QXO by 18.9% during the first quarter. Advisors Capital Management LLC now owns 646,595 shares of the company's stock valued at $8,755,000 after acquiring an additional 102,862 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in QXO by 13.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company's stock worth $9,449,000 after purchasing an additional 81,758 shares during the last quarter. Blue Investment Opportunities LLC Project Breeze Series 1 acquired a new position in QXO during the 1st quarter valued at approximately $118,142,000. Millennium Management LLC increased its stake in QXO by 6.6% during the 1st quarter. Millennium Management LLC now owns 322,115 shares of the company's stock valued at $4,361,000 after purchasing an additional 20,067 shares in the last quarter. Finally, Eschler Asset Management LLP purchased a new position in shares of QXO in the first quarter worth $812,000. Institutional investors and hedge funds own 58.68% of the company's stock.
QXO Company Profile
(
Get Free Report)
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.
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