Triasima Portfolio Management inc. Takes Position in QXO, Inc. $QXO

Triasima Portfolio Management inc. purchased a new stake in QXO, Inc. (NYSE:QXO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 23,056 shares of the company’s stock, valued at approximately $439,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC bought a new stake in QXO in 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 valued at $25,000 after purchasing an additional 841 shares during the period. Bogart Wealth LLC bought a new position in QXO in the third quarter worth $25,000. Allworth Financial LP grew its position 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 acquiring an additional 1,149 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in QXO during the 2nd quarter valued at $28,000. Institutional investors own 58.68% of the company’s stock.

QXO Stock Down 1.3%

Shares of NYSE QXO opened at $23.49 on Wednesday. The firm’s 50-day moving average is $20.82 and its 200-day moving average is $20.27. The firm has a market capitalization of $15.85 billion, a PE ratio of -53.40, a price-to-earnings-growth ratio of 2.83 and a beta of 2.44. QXO, Inc. has a 1 year low of $11.85 and a 1 year high of $26.24. 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 quarterly earnings data on Thursday, November 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. QXO had a positive return on equity of 3.70% and a negative net margin of 3.81%.The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.78 billion. QXO’s revenue for the quarter was up 20726.7% on a year-over-year basis. Equities analysts expect that QXO, Inc. will post -0.13 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. William Blair restated an “outperform” rating on shares of QXO in a report on Wednesday, December 31st. Loop Capital started coverage on shares of QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 price objective on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of QXO in a research report on Monday, December 29th. KeyCorp set a $28.00 target price on shares of QXO in a research report on Wednesday, October 1st. Finally, Oppenheimer raised their price target on shares of QXO from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.43.

QXO Company 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.