Citigroup Cuts QXO (NYSE:QXO) Price Target to $25.00

QXO (NYSE:QXO) had its target price cut by analysts at Citigroup from $28.00 to $25.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 79.30% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Zacks Research lowered QXO from a “hold” rating to a “strong sell” rating in a research report on Thursday. KeyCorp lowered their target price on QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Royal Bank Of Canada restated an “outperform” rating and set a $27.00 target price on shares of QXO in a report on Friday. Stephens cut their price target on shares of QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Finally, Oppenheimer upped their price target on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.57.

QXO Trading Down 7.0%

Shares of NYSE QXO traded down $1.05 during midday trading on Monday, reaching $13.94. 10,015,008 shares of the stock were exchanged, compared to its average volume of 14,305,744. The business has a 50-day simple moving average of $16.91 and a two-hundred day simple moving average of $20.46. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of -15.40, a P/E/G ratio of 3.84 and a beta of 2.23. QXO has a 12 month low of $13.82 and a 12 month high of $27.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47.

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

Institutional Investors Weigh In On QXO

A number of hedge funds and other institutional investors have recently bought and sold shares of QXO. Arax Advisory Partners bought a new position in shares of QXO during the 4th quarter worth approximately $25,000. Russell Investments Group Ltd. bought a new stake in shares of QXO in the second quarter worth $30,000. Root Financial Partners LLC boosted its holdings in QXO by 73,350.0% during the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after purchasing an additional 1,467 shares during the last quarter. LRI Investments LLC grew its position in QXO by 129.1% in the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after purchasing an additional 835 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in QXO by 57.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after purchasing an additional 575 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

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.