Chicago Partners Investment Group LLC Buys 281,216 Shares of QXO, Inc. $QXO

Chicago Partners Investment Group LLC increased its stake in QXO, Inc. (NYSE:QXO) by 534.4% during the third quarter, Holdings Channel.com reports. The firm owned 333,834 shares of the company’s stock after purchasing an additional 281,216 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in QXO were worth $3,509,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Carnegie Investment Counsel increased its position in QXO by 38.6% in the first quarter. Carnegie Investment Counsel now owns 309,644 shares of the company’s stock worth $6,013,000 after buying an additional 86,265 shares in the last quarter. CI Investments Inc. raised its stake in shares of QXO by 4.1% in the first quarter. CI Investments Inc. now owns 2,598,840 shares of the company’s stock worth $50,469,000 after buying an additional 102,838 shares during the period. Gainplan LLC raised its stake in shares of QXO by 390.2% in the third quarter. Gainplan LLC now owns 502,025 shares of the company’s stock worth $5,869,000 after buying an additional 399,605 shares during the period. Fort Washington Investment Advisors Inc. OH raised its stake in shares of QXO by 25.9% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 5,703,964 shares of the company’s stock worth $66,679,000 after buying an additional 1,173,274 shares during the period. Finally, Hudson Value Partners LLC lifted its position in shares of QXO by 87.6% during the 2nd quarter. Hudson Value Partners LLC now owns 215,998 shares of the company’s stock valued at $3,732,000 after buying an additional 100,856 shares in the last quarter. 58.68% of the stock is owned by institutional investors.

QXO Price Performance

NYSE:QXO opened at $11.64 on Friday. The company has a current ratio of 4.11, a quick ratio of 3.29 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $12.08 billion, a P/E ratio of -12.94, a P/E/G ratio of 2.83 and a beta of 2.42. QXO, Inc. has a 12 month low of $10.03 and a 12 month high of $27.61. The business’s 50-day moving average is $11.79 and its 200 day moving average is $17.08.

QXO (NYSE:QXO) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. On average, equities research analysts forecast that QXO, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

QXO has been the topic of a number of analyst reports. Wells Fargo & Company lowered their price objective on QXO from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, October 16th. DA Davidson set a $20.00 target price on shares of QXO in a report on Friday, October 9th. Citigroup reduced their target price on shares of QXO from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, July 13th. Benchmark restated a “buy” rating on shares of QXO in a research note on Friday, August 14th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.77.

QXO Profile

QXO, Inc is a building products distribution company serving professional contractors and other customers in the construction industry. Its product offerings include roofing materials, siding, windows, doors, insulation and related exterior building products.

The company operates through a network of distribution locations in the United States and Canada, providing materials, delivery services and product support to contractors and other building-industry customers. QXO’s strategy is focused on expanding its presence in the building products distribution market through organic growth and acquisitions.

QXO was formerly known as SilverSun Technologies, Inc and adopted the QXO name as part of a strategic transformation led by investor Brad Jacobs.