QXO (NYSE:QXO) Coverage Initiated by Analysts at BNP Paribas Exane

Equities research analysts at BNP Paribas Exane initiated coverage on shares of QXO (NYSE:QXO) in a note issued to investors on Monday. The firm set an “outperform” rating and a $30.00 price target on the stock. BNP Paribas Exane’s price objective indicates a potential upside of 48.69% from the stock’s current price.

A number of other analysts also recently commented on QXO. William Blair reissued an “outperform” rating on shares of QXO in a report on Wednesday, December 31st. Wall Street Zen downgraded shares of QXO from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. Loop Capital began coverage on QXO in a report on Thursday, December 11th. They issued a “buy” rating and a $31.00 price target on the stock. Finally, Royal Bank Of Canada set a $30.00 price objective on QXO in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, QXO has a consensus rating of “Moderate Buy” and an average price target of $32.27.

QXO Trading Up 3.5%

NYSE:QXO opened at $20.18 on Monday. The stock has a fifty day moving average price of $23.78 and a two-hundred day moving average price of $21.04. The stock has a market capitalization of $14.30 billion, a price-to-earnings ratio of -34.20, a PEG ratio of 3.22 and a beta of 2.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58. QXO has a 1 year low of $11.97 and a 1 year high of $27.61.

QXO (NYSE:QXO) last issued 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 had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.19 billion. The business’s quarterly revenue was up 14725.0% on a year-over-year basis. As a group, sell-side analysts anticipate that QXO will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of QXO

Several institutional investors and hedge funds have recently modified their holdings of QXO. Alpha Wave Global LP acquired a new stake in shares of QXO in the second quarter valued at approximately $525,366,000. Vanguard Group Inc. lifted its stake in QXO by 91.0% in the 2nd quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock valued at $1,016,525,000 after buying an additional 22,484,977 shares in the last quarter. Affinity Partners GP LP lifted its stake in QXO by 99.1% in the 2nd quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock valued at $703,745,000 after buying an additional 16,260,163 shares in the last quarter. Baillie Gifford & Co. grew its holdings in QXO by 16,117.6% during the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after buying an additional 14,644,305 shares during the last quarter. Finally, MTCO Ltd. acquired a new stake in QXO during the 3rd quarter valued at $208,534,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

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.