QXO (NYSE:QXO) Shares Gap Down – Should You Sell?

QXO, Inc. (NYSE:QXO) shares gapped down before the market opened on Friday . The stock had previously closed at $25.02, but opened at $23.59. QXO shares last traded at $23.85, with a volume of 10,709,596 shares traded.

Wall Street Analysts Forecast Growth

QXO has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a research report on Monday, December 29th. Citigroup lowered their price objective on QXO from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. William Blair reaffirmed an “outperform” rating on shares of QXO in a research report on Wednesday, December 31st. Vertical Research assumed coverage on QXO in a research note on Tuesday, October 21st. They set a “buy” rating and a $30.00 target price for the company. Finally, Loop Capital started coverage on shares of QXO in a report on Thursday, December 11th. They issued a “buy” rating and a $31.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.43.

QXO Price Performance

The firm has a market cap of $16.22 billion, a P/E ratio of -54.63, a PEG ratio of 2.84 and a beta of 2.44. The company has a fifty day moving average price of $20.49 and a two-hundred day moving average price of $20.25. The company has a current ratio of 3.06, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37.

QXO (NYSE:QXO) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.78 billion. QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. The firm’s quarterly revenue was up 20726.7% compared to the same quarter last year. Equities analysts anticipate that QXO, Inc. will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of QXO. Royal Bank of Canada increased its stake in shares of QXO by 67.5% during the 1st quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock worth $1,620,000 after purchasing an additional 48,248 shares during the last quarter. AQR Capital Management LLC bought a new stake in QXO in the 1st quarter valued at $615,000. Millennium Management LLC boosted its position in QXO by 6.6% during the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock worth $4,361,000 after purchasing an additional 20,067 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of QXO by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock valued at $9,449,000 after purchasing an additional 81,758 shares during the last quarter. Finally, Fiduciary Alliance LLC bought a new position in shares of QXO in the second quarter valued at about $892,000. 58.68% of the stock is owned by institutional investors and hedge funds.

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.