Analysts Set QXO, Inc. (NYSE:QXO) Target Price at $32.43

Shares of QXO, Inc. (NYSE:QXO) have been given an average rating of “Moderate Buy” by the seventeen analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $32.4286.

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. Benchmark reiterated a “buy” rating on shares of QXO in a research report on Friday, January 16th. Vertical Research initiated coverage on QXO in a research report on Tuesday, October 21st. They set a “buy” rating and a $30.00 target price for the company. Citigroup cut their price target on QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Finally, Loop Capital assumed coverage on QXO in a research report on Thursday, December 11th. They issued a “buy” rating and a $31.00 price objective for the company.

Hedge Funds Weigh In On QXO

A number of hedge funds and other institutional investors have recently bought and sold shares of QXO. Cherry Creek Investment Advisors Inc. boosted its position 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 worth $1,633,000 after purchasing an additional 474 shares during the last quarter. Maple Capital Management Inc. boosted its holdings in QXO by 4.7% during the fourth quarter. Maple Capital Management Inc. now owns 11,988 shares of the company’s stock worth $231,000 after buying an additional 543 shares during the last quarter. Allworth Financial LP grew its position in shares of QXO by 27.2% during the 4th quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock worth $50,000 after buying an additional 552 shares during the period. Newbridge Financial Services Group Inc. grew its position in shares of QXO by 57.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after buying an additional 575 shares during the period. Finally, Alamea Verwaltungs GmbH increased its stake in shares of QXO by 4.5% in the 4th quarter. Alamea Verwaltungs GmbH now owns 13,960 shares of the company’s stock valued at $269,000 after acquiring an additional 602 shares during the last quarter. 58.68% of the stock is owned by institutional investors.

QXO Stock Down 0.9%

Shares of NYSE:QXO opened at $26.83 on Wednesday. The company has a quick ratio of 2.24, a current ratio of 3.06 and a debt-to-equity ratio of 0.37. The firm has a market cap of $18.10 billion, a P/E ratio of -60.98, a P/E/G ratio of 3.38 and a beta of 2.55. QXO has a 12 month low of $11.85 and a 12 month high of $27.55. The company’s 50-day moving average price is $23.06 and its two-hundred day moving average price is $20.64.

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.