Wall Street Zen Upgrades QXO (NYSE:QXO) to “Sell”

QXO (NYSE:QXO) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday.

QXO has been the topic of several other reports. Royal Bank Of Canada restated an “outperform” rating and issued a $27.00 price target on shares of QXO in a research note on Friday, July 10th. Oppenheimer lifted their price objective on shares of QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Robert W. Baird decreased their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Stephens decreased their target price on shares of QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Finally, Zacks Research cut shares of QXO from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.57.

QXO Stock Performance

QXO opened at $13.71 on Friday. The business has a fifty day simple moving average of $16.09 and a 200 day simple moving average of $19.99. The company has a market capitalization of $9.94 billion, a PE ratio of -15.06, a price-to-earnings-growth ratio of 3.51 and a beta of 2.23. QXO has a 1 year low of $13.32 and a 1 year 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 issued 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 analyst estimates of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The firm’s revenue for the quarter was up 12716.3% on a year-over-year basis. Research analysts expect that QXO will post 0.2 EPS for the current year.

Institutional Investors Weigh In On QXO

Several institutional investors and hedge funds have recently bought and sold shares of QXO. Arax Advisory Partners bought a new position in QXO in the 4th quarter valued at about $25,000. LRI Investments LLC lifted its holdings in shares of QXO by 129.1% during the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after acquiring an additional 835 shares during the period. Root Financial Partners LLC lifted its holdings in shares of QXO by 73,350.0% during the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after acquiring an additional 1,467 shares during the period. Newbridge Financial Services Group Inc. boosted its position in shares of QXO by 57.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after acquiring an additional 575 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of QXO during the 2nd quarter worth approximately $30,000. Institutional investors own 58.68% of the company’s stock.

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.