Lombard Odier Asset Management Europe Ltd Invests $16.44 Million in QXO, Inc. $QXO

Lombard Odier Asset Management Europe Ltd purchased a new position in QXO, Inc. (NYSE:QXO) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 852,402 shares of the company’s stock, valued at approximately $16,443,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cherry Creek Investment Advisors Inc. increased its holdings in QXO by 0.6% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company’s stock valued at $1,633,000 after acquiring an additional 474 shares in the last quarter. Maple Capital Management Inc. boosted its holdings in shares of QXO by 4.7% during the fourth quarter. Maple Capital Management Inc. now owns 11,988 shares of the company’s stock worth $231,000 after purchasing an additional 543 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of QXO by 27.2% during the fourth quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock worth $50,000 after purchasing an additional 552 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its position in shares of QXO by 57.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after acquiring an additional 575 shares during the last quarter. Finally, Alamea Verwaltungs GmbH boosted its position in shares of QXO by 4.5% in the fourth quarter. Alamea Verwaltungs GmbH now owns 13,960 shares of the company’s stock worth $269,000 after acquiring an additional 602 shares during the last quarter. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on QXO shares. Stephens reduced their target price on QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Royal Bank Of Canada cut their price target on QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Benchmark reaffirmed a “buy” rating on shares of QXO in a report on Friday, February 20th. Citigroup cut their price objective on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. Fifteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.14.

QXO Stock Up 1.6%

Shares of 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. The business’s 50 day simple moving average is $18.76 and its 200-day simple moving average is $21.00. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of -18.64, a PEG ratio of 4.28 and a beta of 2.30. QXO, Inc. has a twelve month low of $14.75 and a twelve month high of $27.61.

QXO (NYSE:QXO) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The firm’s revenue was up 12716.3% on a year-over-year basis. Equities research analysts forecast 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.