QXO, Inc. $QXO Shares Newly Purchased by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB purchased a new position in QXO, Inc. (NYSE:QXO) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 1,201,869 shares of the company’s stock, valued at approximately $14,050,000.

Several other institutional investors and hedge funds also recently made changes to their positions in QXO. SBI Securities Co. Ltd. lifted its position in QXO by 241.3% during the third quarter. SBI Securities Co. Ltd. now owns 6,849 shares of the company’s stock valued at $80,000 after purchasing an additional 4,842 shares during the period. Hartford Financial Management Inc. lifted its stake in shares of QXO by 59.1% in the 3rd quarter. Hartford Financial Management Inc. now owns 3,500 shares of the company’s stock worth $41,000 after purchasing an additional 1,300 shares during the period. Skylands Capital LLC bought a new position in QXO in the third quarter worth approximately $1,343,000. Hosking Partners LLP purchased a new stake in QXO in the third quarter worth about $3,880,000. Finally, Sowell Financial Services LLC purchased a new position in QXO during the third quarter valued at approximately $165,000. Institutional investors own 58.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on QXO shares. DA Davidson set a $20.00 target price on QXO in a report on Friday, October 9th. Citigroup reduced their price target on QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Benchmark reaffirmed a “buy” rating on shares of QXO in a research report on Friday, August 14th. Truist Financial decreased their price objective on shares of QXO from $26.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, QXO currently has an average rating of “Moderate Buy” and a consensus target price of $24.77.

QXO Price Performance

Shares of NYSE QXO opened at $11.04 on Friday. QXO, Inc. has a 1-year low of $10.03 and a 1-year high of $27.61. The stock’s 50-day moving average is $12.30 and its two-hundred day moving average is $15.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.11 and a quick ratio of 3.29. The company has a market cap of $11.46 billion, a price-to-earnings ratio of 85.92, a price-to-earnings-growth ratio of 2.17 and a beta of 2.30.

QXO (NYSE:QXO) last issued its earnings results on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. Analysts forecast that QXO, Inc. will post 0.24 EPS for the current fiscal year.

About QXO

QXO, Inc is a building products distribution company serving professional contractors and other customers in the construction industry. Its product offerings include roofing materials, siding, windows, doors, insulation and related exterior building products.

The company operates through a network of distribution locations in the United States and Canada, providing materials, delivery services and product support to contractors and other building-industry customers. QXO’s strategy is focused on expanding its presence in the building products distribution market through organic growth and acquisitions.

QXO was formerly known as SilverSun Technologies, Inc and adopted the QXO name as part of a strategic transformation led by investor Brad Jacobs.