108,491 Shares in QXO, Inc. $QXO Purchased by WCM Investment Management LLC

WCM Investment Management LLC acquired a new position in shares of QXO, Inc. (NYSE:QXO) in the 1st quarter, Holdings Channel.com reports. The firm acquired 108,491 shares of the company’s stock, valued at approximately $1,976,000.

Other hedge funds also recently modified their holdings of the company. Carnegie Investment Counsel lifted its holdings in QXO by 38.6% during the first quarter. Carnegie Investment Counsel now owns 309,644 shares of the company’s stock worth $6,013,000 after acquiring an additional 86,265 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 acquiring an additional 774,138 shares during the period. Baillie Gifford & Co. increased its holdings in shares of QXO by 16,117.6% in the fourth 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 in the last quarter. JNBA Financial Advisors bought a new stake in shares of QXO in the fourth quarter worth about $992,000. Finally, Griffin Asset Management Inc. acquired a new stake in shares of QXO during the first quarter worth about $2,057,000. Institutional investors own 58.68% of the company’s stock.

QXO Stock Performance

Shares of QXO opened at $13.52 on Tuesday. The company has a market cap of $9.80 billion, a PE ratio of -14.85, a price-to-earnings-growth ratio of 3.69 and a beta of 2.23. The firm has a 50-day moving average of $16.36 and a 200-day moving average of $20.17. QXO, Inc. has a one year low of $13.48 and a one year high of $27.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47.

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

Analyst Upgrades and Downgrades

QXO has been the subject of several research analyst reports. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Oppenheimer upped their price target on shares of 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 reissued an “outperform” rating and set a $27.00 price objective on shares of QXO in a research report on Friday, July 10th. KeyCorp cut their price objective on shares of QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 1st. Finally, Citigroup lowered their target price on QXO from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, July 13th. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.57.

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.