QXO (NASDAQ:QXO) Now Covered by Analysts at Royal Bank Of Canada

Royal Bank Of Canada started coverage on shares of QXO (NASDAQ:QXO - Free Report) in a research report report published on Monday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $33.00 target price on the stock.

Other equities research analysts also recently issued reports about the company. Baird R W raised QXO to a "strong-buy" rating in a report on Thursday, June 12th. Citigroup assumed coverage on QXO in a report on Wednesday, July 16th. They issued a "buy" rating and a $33.00 target price on the stock. Wolfe Research assumed coverage on QXO in a report on Friday, June 6th. They issued an "outperform" rating and a $44.00 target price on the stock. Oppenheimer assumed coverage on QXO in a report on Wednesday, June 11th. They issued an "outperform" rating and a $27.00 target price on the stock. Finally, Truist Financial assumed coverage on QXO in a report on Tuesday, July 1st. They issued a "buy" rating and a $30.00 target price on the stock. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, QXO currently has an average rating of "Buy" and an average target price of $33.17.

QXO Trading Down 1.7%

Shares of QXO stock traded down $0.38 during trading hours on Monday, reaching $21.75. The company's stock had a trading volume of 2,031,848 shares, compared to its average volume of 5,708,141. The stock has a market capitalization of $12.63 billion, a P/E ratio of -2.39, a P/E/G ratio of 4.09 and a beta of 2.41. QXO has a one year low of $10.61 and a one year high of $113.97. The firm's fifty day simple moving average is $20.01 and its 200 day simple moving average is $15.81.

Institutional Trading of QXO

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Affinity Partners GP LP purchased a new position in QXO in the 4th quarter worth $260,941,000. Vanguard Group Inc. raised its stake in QXO by 146.1% in the 1st quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company's stock worth $334,539,000 after acquiring an additional 14,667,571 shares during the last quarter. Blue Investment Opportunities LLC Project Breeze Series 1 purchased a new position in QXO in the 1st quarter worth $118,142,000. Federated Hermes Inc. purchased a new position in QXO in the 4th quarter worth $50,532,000. Finally, JPMorgan Chase & Co. raised its stake in QXO by 523.9% in the 4th quarter. JPMorgan Chase & Co. now owns 877,902 shares of the company's stock worth $13,959,000 after acquiring an additional 737,192 shares during the last quarter. Institutional investors own 58.68% of the company's stock.

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.