36,000 Shares in QXO, Inc. $QXO Purchased by Tran Capital Management L.P.

Tran Capital Management L.P. acquired a new stake in shares of QXO, Inc. (NYSE:QXO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,000 shares of the company’s stock, valued at approximately $686,000.

Several other institutional investors have also modified their holdings of QXO. Cherry Creek Investment Advisors Inc. increased its stake in QXO by 48.5% in the second quarter. Cherry Creek Investment Advisors Inc. now owns 69,780 shares of the company’s stock worth $1,503,000 after purchasing an additional 22,800 shares during the period. Seven Grand Managers LLC purchased a new stake in shares of QXO during the second quarter valued at $14,939,000. Vanguard Group Inc. grew its holdings in shares of QXO by 91.0% in the second quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock worth $1,016,525,000 after purchasing an additional 22,484,977 shares during the last quarter. Amundi increased its stake in QXO by 26.4% in the 1st quarter. Amundi now owns 715,087 shares of the company’s stock worth $9,861,000 after buying an additional 149,504 shares during the period. Finally, Legal & General Group Plc lifted its holdings in QXO by 66.7% during the 2nd quarter. Legal & General Group Plc now owns 587,511 shares of the company’s stock valued at $12,655,000 after buying an additional 235,084 shares in the last quarter. 58.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on QXO. Truist Financial dropped their target price on shares of QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. William Blair reiterated an “outperform” rating on shares of QXO in a report on Wednesday, December 31st. Loop Capital initiated coverage on QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 price objective on the stock. Vertical Research assumed coverage on QXO in a research report on Tuesday, October 21st. They set a “buy” rating and a $30.00 target price for the company. Finally, Zacks Research cut QXO from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.57.

QXO Stock Performance

Shares of QXO stock opened at $23.40 on Thursday. The firm has a market cap of $15.78 billion, a price-to-earnings ratio of -53.18, a PEG ratio of 2.62 and a beta of 2.44. QXO, Inc. has a 52-week low of $11.85 and a 52-week high of $24.69. The company has a quick ratio of 2.24, a current ratio of 3.06 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $19.53 and its 200 day moving average is $20.12.

QXO (NYSE:QXO) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $2.73 billion for 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%.QXO’s quarterly revenue was up 20726.7% compared to the same quarter last year. On average, sell-side analysts anticipate that QXO, Inc. will post -0.13 EPS for the current fiscal year.

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.