Doliver Advisors LP Takes $871,000 Position in QXO, Inc. $QXO

Doliver Advisors LP purchased a new position in QXO, Inc. (NYSE:QXO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,403 shares of the company’s stock, valued at approximately $871,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arax Advisory Partners purchased a new position in QXO during the 4th quarter valued at $25,000. Russell Investments Group Ltd. purchased a new stake in QXO in the second quarter worth $30,000. Root Financial Partners LLC increased its stake in QXO by 73,350.0% in the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after purchasing an additional 1,467 shares during the period. LRI Investments LLC lifted its position in shares of QXO by 129.1% during the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after purchasing an additional 835 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of QXO by 42.4% during the fourth quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. 58.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $27.00 target price on shares of QXO in a research note on Friday, July 10th. Robert W. Baird decreased their price objective on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Morgan Stanley assumed coverage on shares of QXO in a report on Tuesday, August 4th. They set an “overweight” rating and a $35.00 price objective for the company. Oppenheimer boosted their price objective on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Finally, Stephens dropped their target price on shares of QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.71.

QXO Stock Up 1.0%

Shares of QXO stock opened at $15.54 on Wednesday. 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, Inc. has a 1 year low of $13.18 and a 1 year high of $27.61. The firm’s 50-day moving average is $15.56 and its two-hundred day moving average is $19.17. The stock has a market cap of $16.12 billion, a price-to-earnings ratio of -17.08, a PEG ratio of 2.59 and a beta of 2.28.

QXO (NYSE:QXO) last posted 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). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. The business’s quarterly revenue was up 12716.3% on a year-over-year basis. As a group, research analysts expect that QXO, Inc. will post 0.3 earnings per share for the current fiscal 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.