QXO, Inc. $QXO Shares Acquired by Castleark Management LLC

Castleark Management LLC lifted its stake in QXO, Inc. (NYSE:QXO) by 32.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 375,807 shares of the company’s stock after buying an additional 92,280 shares during the period. Castleark Management LLC’s holdings in QXO were worth $7,298,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QXO. Arax Advisory Partners purchased a new stake in QXO in the fourth quarter valued at $25,000. LRI Investments LLC grew its holdings in shares of QXO by 129.1% during the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after purchasing an additional 835 shares during the last quarter. Root Financial Partners LLC grew its holdings in shares of QXO by 73,350.0% during the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after purchasing an additional 1,467 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of QXO by 57.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after purchasing an additional 575 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of QXO during the second quarter worth about $30,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on QXO shares. Stephens reduced their target price on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Oppenheimer raised their price target on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a research report on Friday, May 29th. Zacks Research cut QXO from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Finally, Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a report on Saturday. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, QXO currently has an average rating of “Moderate Buy” and a consensus target price of $30.57.

QXO Trading Up 0.3%

NYSE QXO opened at $13.71 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. The firm has a market cap of $9.94 billion, a PE ratio of -15.06, a P/E/G ratio of 3.51 and a beta of 2.23. QXO, Inc. has a one year low of $13.32 and a one year high of $27.61. The firm’s fifty day moving average is $16.09 and its two-hundred day moving average is $19.99.

QXO (NYSE:QXO) last released its quarterly 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). The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.QXO’s quarterly revenue was up 12716.3% compared to the same quarter last year. Analysts expect that QXO, Inc. will post 0.2 earnings per share for the current year.

QXO Profile

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.