QXO, Inc. $QXO Shares Purchased by Lewis Asset Management LLC

Lewis Asset Management LLC lifted its holdings in QXO, Inc. (NYSE:QXO) by 26.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 160,480 shares of the company’s stock after buying an additional 33,250 shares during the quarter. QXO comprises approximately 1.3% of Lewis Asset Management LLC’s portfolio, making the stock its 16th largest holding. Lewis Asset Management LLC’s holdings in QXO were worth $3,059,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in QXO. Farther Finance Advisors LLC purchased a new stake in QXO during the 2nd quarter worth $25,000. American Capital Advisory LLC boosted its holdings in QXO by 258.0% in the 2nd quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after acquiring an additional 841 shares during the period. Allworth Financial LP lifted its position in shares of QXO by 1,740.9% during the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock worth $26,000 after purchasing an additional 1,149 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of QXO in the second quarter valued at $28,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of QXO in the second quarter valued at $30,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Price Performance

Shares of NYSE:QXO opened at $21.06 on Wednesday. The company has a market cap of $14.20 billion, a PE ratio of -47.86, a P/E/G ratio of 3.22 and a beta of 2.42. QXO, Inc. has a fifty-two week low of $11.85 and a fifty-two week high of $24.69. The firm has a 50-day simple moving average of $19.15 and a 200 day simple moving average of $20.12. The company has a quick ratio of 2.24, a current ratio of 3.06 and a debt-to-equity ratio of 0.37.

QXO (NYSE:QXO) last issued its earnings results on Thursday, November 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.78 billion. QXO had a positive return on equity of 3.70% and a negative net margin of 3.81%.The firm’s revenue was up 20726.7% on a year-over-year basis. On average, sell-side analysts anticipate that QXO, Inc. will post -0.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on QXO shares. Morgan Stanley began coverage on shares of QXO in a research note on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 price target on the stock. Raymond James Financial started coverage on QXO in a research report on Friday, September 5th. They set an “outperform” rating and a $28.00 target price on the stock. Zacks Research cut QXO from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. KeyCorp set a $28.00 price objective on QXO in a report on Wednesday, October 1st. Finally, Vertical Research initiated coverage on QXO in a research report on Tuesday, October 21st. They issued a “buy” rating and a $30.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.57.

QXO 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.