QXO (NYSE:QXO) Upgraded by Zacks Research to Hold Rating

by · The Markets Daily

Zacks Research upgraded shares of QXO (NYSE:QXO – Free Report) from a strong sell rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

A number of other research firms have also recently issued reports on QXO. Stephens cut their target price on QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Robert W. Baird cut their target price on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. Royal Bank Of Canada cut their price objective on shares of QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Finally, Benchmark restated a “buy” rating on shares of QXO in a research note on Friday, February 20th. Fifteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, QXO currently has an average rating of “Moderate Buy” and an average target price of $31.14.

View Our Latest Research Report on QXO

QXO Stock Performance

QXO stock opened at $16.50 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of -18.13, a PEG ratio of 3.86 and a beta of 2.30. QXO has a 1 year low of $14.75 and a 1 year high of $27.61. The stock’s fifty day moving average is $18.90 and its two-hundred day moving average is $21.02.

QXO (NYSE:QXO – Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The company’s revenue for the quarter was up 12716.3% compared to the same quarter last year. On average, research analysts predict that QXO will post 0.2 EPS for the current year.

Institutional Investors Weigh In On QXO

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arax Advisory Partners bought a new stake in shares of QXO during the fourth quarter valued at about $25,000. Russell Investments Group Ltd. bought a new stake in shares of QXO during the second quarter valued at about $30,000. Root Financial Partners LLC raised its stake in shares of QXO by 73,350.0% during the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock valued at $29,000 after purchasing an additional 1,467 shares in the last quarter. LRI Investments LLC raised its stake in shares of QXO by 129.1% during the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after purchasing an additional 835 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in QXO by 57.5% during the fourth 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 during the period. 58.68% of the stock is currently owned by institutional investors.

QXO Company Profile

(Get 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.

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