CFM Wealth Partners LLC Makes New Investment in QXO, Inc. $QXO

CFM Wealth Partners LLC acquired a new position in shares of QXO, Inc. (NYSE:QXO) in the third quarter, HoldingsChannel reports. The institutional investor acquired 32,961 shares of the company’s stock, valued at approximately $628,000.

Other large investors also recently made changes to their positions in the company. Farther Finance Advisors LLC acquired a new stake in QXO during the 2nd quarter worth approximately $25,000. American Capital Advisory LLC lifted its holdings in shares of QXO by 258.0% during the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after buying an additional 841 shares in the last quarter. Bogart Wealth LLC bought a new stake in shares of QXO in the third quarter valued at about $25,000. Allworth Financial LP grew its stake in shares of QXO by 1,740.9% in the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after acquiring an additional 1,149 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in QXO during the second quarter worth about $28,000. Institutional investors own 58.68% of the company’s stock.

QXO Stock Performance

Shares of NYSE:QXO opened at $23.95 on Tuesday. QXO, Inc. has a 1 year low of $11.85 and a 1 year high of $26.24. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of -54.42, a price-to-earnings-growth ratio of 2.94 and a beta of 2.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.06 and a quick ratio of 2.24. The company’s 50 day simple moving average is $21.31 and its 200 day simple moving average is $20.33.

QXO (NYSE:QXO) last issued its earnings results on Thursday, November 6th. The company reported $0.14 earnings per share for the quarter, beating 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 firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.78 billion. The company’s quarterly revenue was up 20726.7% on a year-over-year basis. As a group, research analysts predict that QXO, Inc. will post -0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

QXO has been the subject of a number of recent research reports. Royal Bank Of Canada set a $30.00 price objective on shares of QXO in a report on Friday, January 9th. KeyCorp set a $28.00 price target on QXO in a research note on Wednesday, October 1st. William Blair reissued an “outperform” rating on shares of QXO in a research report on Wednesday, December 31st. Benchmark reaffirmed a “buy” rating on shares of QXO in a report on Friday, January 16th. Finally, Oppenheimer upped their target price on QXO from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.43.

QXO 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.