QXO (NYSE:QXO) Trading Down 6% – Should You Sell?

Shares of QXO, Inc. (NYSE:QXO) were down 6% during mid-day trading on Thursday . The stock traded as low as $13.45 and last traded at $13.2650. Approximately 1,876,981 shares were traded during mid-day trading, a decline of 88% from the average session volume of 15,365,610 shares. The stock had previously closed at $14.11.

Wall Street Analyst Weigh In

QXO has been the subject of a number of research reports. Robert W. Baird decreased their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Oppenheimer raised their price target on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $27.00 price objective on shares of QXO in a report on Friday, July 10th. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, QXO has a consensus rating of “Moderate Buy” and an average target price of $28.15.

QXO Stock Performance

The company has a market cap of $14.32 billion, a P/E ratio of -15.33, a PEG ratio of 2.30 and a beta of 2.28. The business’s 50 day simple moving average is $15.25 and its 200 day simple moving average is $18.69. The company has a current ratio of 4.11, a quick ratio of 2.47 and a debt-to-equity ratio of 0.66.

QXO (NYSE:QXO) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. Sell-side analysts predict that QXO, Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On QXO

A number of institutional investors have recently bought and sold shares of the business. Carnegie Investment Counsel grew its holdings in QXO by 38.6% during the 1st quarter. Carnegie Investment Counsel now owns 309,644 shares of the company’s stock valued at $6,013,000 after buying an additional 86,265 shares in the last quarter. CI Investments Inc. raised its position in shares of QXO by 4.1% during the first quarter. CI Investments Inc. now owns 2,598,840 shares of the company’s stock valued at $50,469,000 after buying an additional 102,838 shares during the last quarter. Hudson Value Partners LLC lifted its holdings in shares of QXO by 87.6% in the second quarter. Hudson Value Partners LLC now owns 215,998 shares of the company’s stock worth $3,732,000 after buying an additional 100,856 shares in the last quarter. Griffin Asset Management Inc. bought a new position in shares of QXO during the first quarter worth $2,057,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of QXO during the first quarter worth $1,610,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

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.