QXO (NYSE:QXO) Price Target Lowered to $28.00 at Royal Bank Of Canada

QXO (NYSE:QXO) had its price objective cut by research analysts at Royal Bank Of Canada from $30.00 to $28.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 48.65% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Loop Capital began coverage on shares of QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. Oppenheimer raised their price target on QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Wall Street Zen cut shares of QXO from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, Benchmark reissued a “buy” rating on shares of QXO in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.13.

QXO Trading Down 1.0%

Shares of NYSE:QXO traded down $0.19 during mid-day trading on Monday, hitting $18.84. The stock had a trading volume of 375,082 shares, compared to its average volume of 7,992,644. The company’s 50 day moving average is $22.41 and its 200-day moving average is $20.89. QXO has a 12-month low of $11.97 and a 12-month high of $27.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58. The company has a market cap of $13.37 billion, a PE ratio of -32.19, a P/E/G ratio of 3.04 and a beta of 2.50.

QXO (NYSE:QXO) last announced its quarterly earnings data 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 positive return on equity of 3.45% and a negative net margin of 4.08%.QXO’s revenue was up 14725.0% compared to the same quarter last year. On average, sell-side analysts predict that QXO will post -0.13 EPS for the current year.

Institutional Trading of QXO

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in QXO by 17.2% during the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after purchasing an additional 8,131,331 shares during the last quarter. Affinity Partners GP LP increased its position in QXO by 99.1% during the 2nd quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock valued at $703,745,000 after purchasing an additional 16,260,163 shares during the period. Finepoint Capital LP raised its holdings in QXO by 5.4% in the third quarter. Finepoint Capital LP now owns 22,295,615 shares of the company’s stock worth $424,954,000 after purchasing an additional 1,142,747 shares in the last quarter. Fred Alger Management LLC boosted its position in shares of QXO by 75.4% in the 4th quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock worth $307,173,000 after purchasing an additional 6,844,574 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of QXO by 16,117.6% in the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after acquiring an additional 14,644,305 shares during the last quarter. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Company 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.