QXO (NYSE:QXO) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded QXO from “strong sell” to “sell”, but the stock still has mostly mixed analyst sentiment overall.
• Across recent coverage, QXO has an average analyst rating of “Moderate Buy” with an average target price of $30.57, while the stock was trading at $13.71 and had fallen 0.9% on the day.
• QXO recently reported a quarterly EPS loss of $0.12, missing estimates, though revenue of $1.73 billion matched expectations and jumped sharply from the prior year.

QXO (NYSE:QXO - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued on Saturday.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings restated a "sell (d)" rating on shares of QXO in a report on Friday, May 29th. Zacks Research cut QXO from a "hold" rating to a "strong sell" rating in a report on Thursday, July 9th. Stephens decreased their target price on QXO from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Thursday, May 14th. Robert W. Baird lowered their target price on QXO from $35.00 to $30.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $27.00 target price on shares of QXO in a report on Friday, July 10th. Fifteen research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, QXO currently has an average rating of "Moderate Buy" and an average target price of $30.57.

QXO Stock Down 0.9%

Shares of NYSE QXO opened at $13.71 on Friday. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of -15.06, a price-to-earnings-growth ratio of 3.55 and a beta of 2.23. QXO has a 52 week low of $13.32 and a 52 week high of $27.61. The firm has a 50-day moving average price of $16.09 and a 200 day moving average price of $20.01. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Arax Advisory Partners purchased a new stake in QXO in the 4th quarter valued at approximately $25,000. LRI Investments LLC increased its position in QXO by 129.1% during 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 in the last quarter. Root Financial Partners LLC increased its position in QXO by 73,350.0% during the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company's stock worth $29,000 after buying an additional 1,467 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of QXO by 57.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company's stock worth $30,000 after acquiring an additional 575 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of QXO in the second quarter worth $30,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

About QXO

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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