QXO, Inc. $QXO Shares Acquired by Opal Capital LLC

Opal Capital LLC increased its holdings in shares of QXO, Inc. (NYSE:QXO) by 2,185.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,846 shares of the company’s stock after buying an additional 244,650 shares during the period. Opal Capital LLC’s holdings in QXO were worth $4,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of QXO by 67.5% during the first 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 in the last quarter. AQR Capital Management LLC purchased a new position in QXO in the 1st quarter valued at about $615,000. Millennium Management LLC lifted its stake in QXO by 6.6% in the 1st quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock valued at $4,361,000 after buying an additional 20,067 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in QXO by 13.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock worth $9,449,000 after buying an additional 81,758 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in QXO in the 2nd quarter worth about $837,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Price Performance

QXO stock opened at $14.24 on Wednesday. QXO, Inc. has a 52-week low of $13.32 and a 52-week high of $27.61. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. The stock has a market cap of $10.33 billion, a price-to-earnings ratio of -15.65, a price-to-earnings-growth ratio of 2.62 and a beta of 2.23. The business has a fifty day moving average of $16.01 and a two-hundred day moving average of $19.86.

QXO (NYSE:QXO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business 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 was up 12716.3% on a year-over-year basis. As a group, research analysts anticipate that QXO, Inc. will post 0.27 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on QXO. 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. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $27.00 price target on shares of QXO in a research note on Friday, July 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a research report on Friday, May 29th. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, Zacks Research lowered QXO from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, QXO has an average rating of “Moderate Buy” and an average price target of $29.71.

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.