Strs Ohio Grows Position in QXO, Inc. $QXO

Strs Ohio raised its stake in shares of QXO, Inc. (NYSE:QXO) by 369.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,633 shares of the company’s stock after purchasing an additional 54,026 shares during the quarter. Strs Ohio’s holdings in QXO were worth $1,324,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Intact Investment Management Inc. acquired a new position in shares of QXO in the 3rd quarter valued at $982,000. Campbell & CO Investment Adviser LLC purchased a new position in QXO in the 3rd quarter worth $1,006,000. Fishman Jay A Ltd. MI purchased a new position in QXO in the 3rd quarter worth $10,444,000. Fred Alger Management LLC acquired a new stake in QXO during the 3rd quarter worth about $173,053,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in QXO by 748.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock valued at $16,928,000 after purchasing an additional 774,138 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Trading Up 4.6%

Shares of NYSE:QXO opened at $19.73 on Thursday. The business’s 50 day moving average price is $21.16 and its 200-day moving average price is $21.17. QXO, Inc. has a 1 year low of $13.30 and a 1 year high of $27.61. The firm has a market capitalization of $14.31 billion, a price-to-earnings ratio of -33.45, a price-to-earnings-growth ratio of 3.09 and a beta of 2.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.61.

QXO (NYSE:QXO) last posted its quarterly earnings data on Friday, February 27th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates 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’s quarterly revenue was up 14725.0% compared to the same quarter last year. On average, equities research analysts forecast that QXO, Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on QXO. BNP Paribas Exane initiated coverage on QXO in a report on Monday, March 16th. They issued an “outperform” rating and a $30.00 price objective on the stock. KeyCorp lifted their target price on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Oppenheimer upped their target price on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Royal Bank Of Canada cut their price target on shares of QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. Finally, Wall Street Zen lowered shares of QXO from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.53.

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.