Analysts Set QXO, Inc. (NYSE:QXO) Target Price at $32.27

QXO, Inc. (NYSE:QXO) has been given a consensus recommendation of “Moderate Buy” by the eighteen analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $32.2667.

Several equities analysts recently commented on QXO shares. Royal Bank Of Canada set a $30.00 target price on QXO in a research report on Friday, January 9th. Benchmark reiterated a “buy” rating on shares of QXO in a research report on Friday, February 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. Oppenheimer upped their price objective on shares of QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st.

Institutional Trading of QXO

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. lifted its holdings in shares of QXO by 38.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 120,928 shares of the company’s stock worth $2,333,000 after acquiring an additional 33,469 shares during the last quarter. Osbon Capital Management LLC bought a new position in QXO in the fourth quarter valued at $201,000. World Investment Advisors bought a new position in QXO in the fourth quarter valued at $631,000. Vericrest Private Wealth purchased a new stake in QXO during the fourth quarter valued at about $447,000. Finally, Redwood Family Wealth LLC bought a new stake in QXO during the fourth quarter worth about $293,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Stock Performance

NYSE QXO opened at $19.00 on Thursday. The company’s 50 day simple moving average is $22.41 and its two-hundred day simple moving average is $20.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.61. QXO has a 1 year low of $11.97 and a 1 year high of $27.61. The stock has a market capitalization of $13.49 billion, a PE ratio of -32.20, a P/E/G ratio of 3.04 and a beta of 2.50.

QXO (NYSE:QXO) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. The company’s revenue was up 14725.0% compared to the same quarter last year. Analysts predict that QXO will post -0.13 earnings per share 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.