Investment House LLC Boosts Stock Holdings in QXO, Inc. $QXO

Investment House LLC raised its stake in QXO, Inc. (NYSE:QXO) by 241.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 687,379 shares of the company’s stock after buying an additional 486,185 shares during the period. Investment House LLC owned about 0.10% of QXO worth $13,101,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC bought a new stake in QXO in the 2nd quarter worth approximately $25,000. American Capital Advisory LLC raised its stake in shares of QXO by 258.0% during the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after acquiring an additional 841 shares in the last quarter. Allworth Financial LP raised its stake in shares of QXO by 1,740.9% during the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock worth $26,000 after acquiring an additional 1,149 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of QXO in the 2nd quarter worth approximately $28,000. Finally, Bogart Wealth LLC purchased a new stake in shares of QXO in the 3rd quarter valued at $25,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Vertical Research started coverage on shares of QXO in a research report on Tuesday, October 21st. They issued a “buy” rating and a $30.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. Benchmark reiterated a “buy” rating on shares of QXO in a report on Friday, January 16th. Oppenheimer boosted their target price on QXO from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. Finally, Truist Financial reduced their price target on QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.43.

QXO Trading Down 0.9%

NYSE QXO opened at $23.90 on Friday. The stock has a market cap of $16.12 billion, a P/E ratio of -54.31, a price-to-earnings-growth ratio of 2.94 and a beta of 2.44. QXO, Inc. has a fifty-two week low of $11.85 and a fifty-two week high of $26.24. The stock has a 50 day simple moving average of $21.17 and a two-hundred day simple moving average of $20.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06.

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

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.