Mediolanum International Funds Ltd Takes Position in QXO, Inc. $QXO

Mediolanum International Funds Ltd bought a new position in shares of QXO, Inc. (NYSE:QXO) during the 1st quarter, Holdings Channel reports. The institutional investor bought 615,571 shares of the company’s stock, valued at approximately $11,210,000.

Several other institutional investors have also recently added to or reduced their stakes in QXO. Sunbelt Securities Inc. raised its holdings in QXO by 6.8% during the fourth quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company’s stock worth $122,000 after purchasing an additional 400 shares in the last quarter. Cherry Creek Investment Advisors Inc. boosted its holdings in shares of QXO by 0.6% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company’s stock valued at $1,633,000 after buying an additional 474 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of QXO by 42.4% in the 4th quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock valued at $32,000 after buying an additional 500 shares during the last quarter. Maple Capital Management Inc. grew its position in shares of QXO by 4.7% in the 4th quarter. Maple Capital Management Inc. now owns 11,988 shares of the company’s stock valued at $231,000 after buying an additional 543 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of QXO by 27.2% in the 4th quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock valued at $50,000 after buying an additional 552 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Trading Up 0.2%

Shares of QXO stock opened at $14.43 on Monday. The business’s 50 day moving average is $16.45 and its two-hundred day moving average is $20.23. QXO, Inc. has a twelve month low of $13.82 and a twelve month high of $27.61. The company has a market capitalization of $10.46 billion, a P/E ratio of -15.85, a price-to-earnings-growth ratio of 3.69 and a beta of 2.23. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on QXO. Citigroup reduced their price target on shares of QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Robert W. Baird dropped their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $27.00 target price on shares of QXO in a research report on Friday, July 10th. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Finally, Stephens reduced their target price on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.57.

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.