Lombard Odier Asset Management USA Corp Reduces Stake in QXO, Inc. $QXO

Lombard Odier Asset Management USA Corp lowered its position in QXO, Inc. (NYSE:QXO) by 37.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 101,717 shares of the company’s stock after selling 60,120 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in QXO were worth $1,962,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Fred Alger Management LLC purchased a new stake in QXO in the third quarter valued at approximately $173,053,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in QXO by 748.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock valued at $16,928,000 after buying an additional 774,138 shares during the last quarter. Baillie Gifford & Co. boosted its position in QXO by 16,117.6% in the fourth 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. JNBA Financial Advisors purchased a new stake in QXO in the fourth quarter valued at approximately $992,000. Finally, Neuberger Berman Group LLC boosted its position in QXO by 36.0% in the third quarter. Neuberger Berman Group LLC now owns 1,108,631 shares of the company’s stock valued at $21,131,000 after buying an additional 293,351 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank Of Canada dropped their target price on QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. Robert W. Baird lowered their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. KeyCorp upped their price objective on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Oppenheimer upped their price objective on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Finally, Benchmark restated a “buy” rating on shares of QXO in a research report on Friday, February 20th. Fifteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $31.14.

QXO Trading Up 1.6%

QXO stock opened at $16.96 on Wednesday. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. QXO, Inc. has a 12 month low of $14.75 and a 12 month high of $27.61. The stock’s 50 day simple moving average is $18.76 and its two-hundred day simple moving average is $21.00. The firm has a market cap of $12.30 billion, a PE ratio of -18.64, a P/E/G ratio of 4.28 and a beta of 2.30.

QXO (NYSE:QXO) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. The business’s revenue was up 12716.3% on a year-over-year basis. Analysts anticipate that QXO, Inc. will post 0.2 earnings per share for the current year.

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.