Janney Montgomery Scott LLC Has $3.55 Million Holdings in QXO, Inc. $QXO

Janney Montgomery Scott LLC boosted its position in QXO, Inc. (NYSE:QXO) by 127.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 183,007 shares of the company’s stock after buying an additional 102,666 shares during the period. Janney Montgomery Scott LLC’s holdings in QXO were worth $3,554,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Baillie Gifford & Co. grew its holdings in QXO by 16,117.6% during the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after acquiring an additional 14,644,305 shares during the period. MTCO Ltd. acquired a new position in shares of QXO in the 3rd quarter valued at about $208,534,000. Fred Alger Management LLC bought a new stake in shares of QXO during the 3rd quarter valued at about $173,053,000. Schf GPE LLC grew its stake in QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after purchasing an additional 8,943,089 shares during the period. Finally, Norges Bank acquired a new stake in QXO during the fourth quarter worth approximately $140,421,000. Institutional investors own 58.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QXO. Stephens dropped their price target on QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Royal Bank Of Canada reduced their price objective on shares of QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. Wall Street Zen upgraded shares of QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Robert W. Baird dropped their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, KeyCorp cut their target price on shares of QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Fifteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.86.

QXO Stock Down 2.9%

QXO stock traded down $0.46 during mid-day trading on Tuesday, reaching $15.36. The stock had a trading volume of 1,795,228 shares, compared to its average volume of 13,342,792. 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, Inc. has a fifty-two week low of $14.75 and a fifty-two week high of $27.61. The stock’s 50-day simple moving average is $17.33 and its 200-day simple moving average is $20.65. The firm has a market capitalization of $11.14 billion, a PE ratio of -16.90, a price-to-earnings-growth ratio of 4.16 and a beta of 2.23.

QXO (NYSE:QXO) last issued its earnings results 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). QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. The firm’s revenue for the quarter was up 12716.3% compared to the same quarter last year. On average, sell-side analysts forecast that QXO, Inc. will post 0.2 EPS for the current fiscal 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.