QXO (NYSE:QXO) Sets New 12-Month Low – Here’s Why

Shares of QXO, Inc. (NYSE:QXO) hit a new 52-week low on Thursday . The company traded as low as $14.75 and last traded at $15.0530, with a volume of 23081364 shares traded. The stock had previously closed at $16.40.

Analyst Ratings Changes

A number of brokerages have recently weighed in on QXO. Benchmark reiterated a “buy” rating on shares of QXO in a research report on Friday, February 20th. Citigroup reduced their price target on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. KeyCorp upped their price target on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Finally, Royal Bank Of Canada reduced their price target on QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.14.

QXO Stock Performance

The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. The company has a 50 day moving average of $18.96 and a two-hundred day moving average of $21.02. The company has a market capitalization of $10.92 billion, a PE ratio of -16.54, a PEG ratio of 4.21 and a beta of 2.30.

QXO (NYSE:QXO) last released its earnings results on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. QXO’s revenue for the quarter was up 12716.3% compared to the same quarter last year. As a group, equities research analysts predict that QXO, Inc. will post 0.2 earnings per share for the current year.

Institutional Investors Weigh In On QXO

Several hedge funds have recently added to or reduced their stakes in QXO. Arax Advisory Partners bought a new stake in QXO in the fourth quarter worth $25,000. LRI Investments LLC boosted its holdings in QXO by 129.1% in the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after acquiring an additional 835 shares in the last quarter. Root Financial Partners LLC boosted its holdings in QXO by 73,350.0% in the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after acquiring an additional 1,467 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in QXO by 57.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after acquiring an additional 575 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in QXO in the second quarter worth $30,000. 58.68% of the stock is owned by institutional investors.

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.