QXO, Inc. $QXO Stock Position Reduced by Deltec Asset Management LLC

Deltec Asset Management LLC lessened its stake in QXO, Inc. (NYSE:QXO) by 72.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 14,310 shares of the company’s stock after selling 37,851 shares during the quarter. Deltec Asset Management LLC’s holdings in QXO were worth $278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QXO. Canton Hathaway LLC boosted its stake in shares of QXO by 2.1% during the 1st quarter. Canton Hathaway LLC now owns 389,737 shares of the company’s stock valued at $7,569,000 after buying an additional 8,050 shares during the period. Brown Miller Wealth Management LLC increased its stake in shares of QXO by 38.2% in the first quarter. Brown Miller Wealth Management LLC now owns 72,550 shares of the company’s stock worth $1,409,000 after acquiring an additional 20,061 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in shares of QXO in the first quarter worth $354,000. Red Door Wealth Management LLC increased its stake in shares of QXO by 3.9% in the first quarter. Red Door Wealth Management LLC now owns 15,982 shares of the company’s stock worth $310,000 after acquiring an additional 600 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of QXO by 127.8% during the first quarter. Janney Montgomery Scott LLC now owns 183,007 shares of the company’s stock worth $3,554,000 after acquiring an additional 102,666 shares in the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on QXO shares. BNP Paribas Exane assumed coverage on QXO in a research report on Monday, March 16th. They set an “outperform” rating and a $30.00 price objective for the company. Oppenheimer raised their target price on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Royal Bank Of Canada decreased their target price on QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. KeyCorp lowered their price target on QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research report on Friday, May 29th. Fifteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, QXO currently has an average rating of “Moderate Buy” and a consensus target price of $30.86.

QXO Trading Down 4.5%

Shares of NYSE:QXO opened at $16.51 on Thursday. The company has a market cap of $11.97 billion, a P/E ratio of -18.14, a P/E/G ratio of 4.43 and a beta of 2.23. The stock’s 50-day moving average is $17.67 and its 200-day moving average is $20.77. QXO, Inc. has a 52-week low of $14.75 and a 52-week high of $27.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33.

QXO (NYSE:QXO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. The company’s revenue was up 12716.3% compared to the same quarter last year. Equities research analysts predict 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.