K.J. Harrison & Partners Inc Has $1.99 Million Stock Position in QXO, Inc. $QXO

K.J. Harrison & Partners Inc lifted its position in QXO, Inc. (NYSE:QXO) by 100.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,000 shares of the company’s stock after buying an additional 50,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in QXO were worth $1,991,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in QXO. American Capital Advisory LLC increased its holdings in shares of QXO by 258.0% in the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after acquiring an additional 841 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of QXO by 1,740.9% during the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after purchasing an additional 1,149 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of QXO in the 2nd quarter valued at approximately $28,000. Bogart Wealth LLC bought a new stake in QXO during the 3rd quarter worth approximately $25,000. Finally, Russell Investments Group Ltd. bought a new stake in QXO during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on QXO shares. Loop Capital assumed coverage on shares of QXO in a research note on Thursday, December 11th. They issued a “buy” rating and a $31.00 price target on the stock. Benchmark reaffirmed a “buy” rating on shares of QXO in a research report on Friday, February 20th. Royal Bank Of Canada set a $30.00 target price on shares of QXO in a research note on Friday, January 9th. William Blair reissued an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. Finally, Citigroup reduced their price objective on QXO from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.43.

QXO Price Performance

NYSE:QXO opened at $24.14 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06. The stock’s 50-day simple moving average is $23.53 and its 200 day simple moving average is $20.88. The company has a market cap of $16.29 billion, a P/E ratio of -54.87, a P/E/G ratio of 3.14 and a beta of 2.55. QXO, Inc. has a 52-week low of $11.95 and a 52-week high of $27.61.

QXO (NYSE:QXO) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.19 billion. The business’s revenue for the quarter was up 14725.0% compared to the same quarter last year. As a group, sell-side analysts forecast that QXO, Inc. will post -0.13 EPS for the current fiscal year.

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.