Tritonpoint Wealth LLC Acquires 43,700 Shares of QXO, Inc. $QXO

Tritonpoint Wealth LLC raised its holdings in QXO, Inc. (NYSE:QXO – Free Report) by 15.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 329,592 shares of the company’s stock after acquiring an additional 43,700 shares during the quarter. Tritonpoint Wealth LLC’s holdings in QXO were worth $6,358,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of QXO. Cherry Creek Investment Advisors Inc. grew its stake in shares of QXO by 0.6% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company’s stock valued at $1,633,000 after buying an additional 474 shares during the period. Quest Investment Management LLC raised its position in shares of QXO by 2.0% during the third quarter. Quest Investment Management LLC now owns 34,959 shares of the company’s stock worth $666,000 after purchasing an additional 695 shares during the period. First Bank & Trust lifted its holdings in shares of QXO by 4.9% in the 4th quarter. First Bank & Trust now owns 14,963 shares of the company’s stock worth $289,000 after purchasing an additional 701 shares in the last quarter. Allworth Financial LP grew its position in QXO by 66.9% in the 3rd quarter. Allworth Financial LP now owns 2,028 shares of the company’s stock valued at $39,000 after purchasing an additional 813 shares during the period. Finally, SG Americas Securities LLC grew its position in QXO by 5.0% in the 3rd quarter. SG Americas Securities LLC now owns 17,499 shares of the company’s stock valued at $334,000 after purchasing an additional 832 shares during the period. 58.68% of the stock is currently owned by institutional investors.

QXO Trading Down 0.2%

Shares of QXO stock opened at $19.00 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58. The company has a market capitalization of $13.49 billion, a price-to-earnings ratio of -32.20, a PEG ratio of 3.04 and a beta of 2.50. QXO, Inc. has a 52-week low of $11.97 and a 52-week high of $27.61. The company has a 50-day simple moving average of $22.41 and a two-hundred day simple moving average of $20.89.

QXO (NYSE:QXO – Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The company’s revenue was up 14725.0% on a year-over-year basis. Research analysts anticipate that QXO, Inc. will post -0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

QXO has been the topic of several research reports. William Blair restated an “outperform” rating on shares of QXO in a report on Wednesday, December 31st. Weiss Ratings reiterated a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. Truist Financial decreased their target price on shares of QXO from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, December 19th. Oppenheimer raised their price target on shares of QXO from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, January 16th. Finally, Benchmark reiterated a “buy” rating on shares of QXO in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.27.

View Our Latest Stock Report on QXO

QXO Profile

(Free Report)

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.

Further Reading

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