Lombard Odier Asset Management Europe Ltd Cuts Position in QXO, Inc. $QXO

Lombard Odier Asset Management Europe Ltd lessened its holdings in QXO, Inc. (NYSE:QXO) by 13.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 733,928 shares of the company’s stock after selling 118,474 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in QXO were worth $14,253,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Carnegie Investment Counsel lifted its position in shares of QXO by 38.6% during the 1st quarter. Carnegie Investment Counsel now owns 309,644 shares of the company’s stock valued at $6,013,000 after buying an additional 86,265 shares in the last quarter. CI Investments Inc. increased its holdings in QXO by 4.1% in the 1st quarter. CI Investments Inc. now owns 2,598,840 shares of the company’s stock worth $50,469,000 after acquiring an additional 102,838 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in QXO by 748.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock worth $16,928,000 after acquiring an additional 774,138 shares during the period. Baillie Gifford & Co. raised its position in QXO by 16,117.6% during 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 during the period. Finally, JNBA Financial Advisors purchased a new position in QXO during the fourth quarter valued at $992,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on QXO shares. 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. Oppenheimer upped their price target on shares of QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. Wells Fargo & Company set a $18.00 price objective on QXO in a report on Tuesday, July 28th. Finally, Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.71.

QXO Trading Up 0.3%

Shares of QXO opened at $13.34 on Monday. QXO, Inc. has a 52-week low of $13.18 and a 52-week high of $27.61. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average is $15.79 and its two-hundred day moving average is $19.61. The stock has a market cap of $13.84 billion, a PE ratio of -14.66, a price-to-earnings-growth ratio of 2.38 and a beta of 2.28.

QXO (NYSE:QXO) last released 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). The business 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%.The firm’s revenue for the quarter was up 12716.3% compared to the same quarter last year. Research analysts forecast that QXO, Inc. will post 0.28 earnings per share for the current fiscal year.

QXO Company 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.