Deltec Asset Management LLC Raises Stock Holdings in QXO, Inc. $QXO

Deltec Asset Management LLC boosted its stake in QXO, Inc. (NYSE:QXO) by 283.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 134,100 shares of the company’s stock after acquiring an additional 99,100 shares during the quarter. Deltec Asset Management LLC’s holdings in QXO were worth $2,556,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new stake in shares of QXO during the second quarter worth approximately $25,000. American Capital Advisory LLC boosted its stake in QXO by 258.0% during the 2nd quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after purchasing an additional 841 shares during the last quarter. Allworth Financial LP boosted its stake in QXO by 1,740.9% during the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock worth $26,000 after purchasing an additional 1,149 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of QXO during the second quarter worth $28,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of QXO in the second quarter valued at about $30,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Royal Bank Of Canada set a $30.00 price objective on shares of QXO in a research note on Friday. Vertical Research began coverage on QXO in a research report on Tuesday, October 21st. They issued a “buy” rating and a $30.00 price target for the company. Loop Capital assumed coverage on QXO in a report on Thursday, December 11th. They issued a “buy” rating and a $31.00 price target for the company. William Blair reissued an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.21.

QXO Stock Up 1.4%

Shares of NYSE:QXO opened at $25.00 on Friday. The company has a market capitalization of $16.86 billion, a price-to-earnings ratio of -56.81, a PEG ratio of 2.78 and a beta of 2.44. QXO, Inc. has a 12-month low of $11.85 and a 12-month high of $25.05. The business has a 50-day moving average price of $19.82 and a 200 day moving average price of $20.14. The company has a current ratio of 3.06, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37.

QXO (NYSE:QXO) last announced its earnings results on Thursday, November 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.78 billion. The business’s revenue for the quarter was up 20726.7% on a year-over-year basis. Sell-side analysts expect that QXO, Inc. will post -0.13 EPS for the current 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.