QXO, Inc. (NASDAQ:QXO) Given Average Rating of “Buy” by Brokerages

QXO, Inc. (NASDAQ:QXO) has been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $33.17.

Several equities analysts have issued reports on the company. Truist Financial assumed coverage on QXO in a research report on Tuesday, July 1st. They set a “buy” rating and a $30.00 target price on the stock. William Blair assumed coverage on QXO in a research report on Wednesday, June 18th. They set an “outperform” rating on the stock. Royal Bank Of Canada assumed coverage on QXO in a research report on Monday, July 21st. They set an “outperform” rating and a $33.00 target price on the stock. Baird R W upgraded QXO to a “strong-buy” rating in a research report on Thursday, June 12th. Finally, Wolfe Research assumed coverage on QXO in a research report on Friday, June 6th. They set an “outperform” rating and a $44.00 target price on the stock.

Institutional Investors Weigh In On QXO

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in QXO in the 4th quarter valued at approximately $1,235,000. KLP Kapitalforvaltning AS purchased a new stake in QXO in the 4th quarter valued at approximately $1,121,000. Vanguard Group Inc. lifted its stake in QXO by 24.6% in the 4th quarter. Vanguard Group Inc. now owns 10,039,864 shares of the company’s stock valued at $159,634,000 after buying an additional 1,979,147 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in QXO by 523.9% in the 4th quarter. JPMorgan Chase & Co. now owns 877,902 shares of the company’s stock valued at $13,959,000 after buying an additional 737,192 shares in the last quarter. Finally, Blair William & Co. IL purchased a new stake in QXO in the 4th quarter valued at approximately $229,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Trading Down 1.5%

NASDAQ QXO opened at $20.69 on Friday. The business’s 50 day moving average is $20.44 and its two-hundred day moving average is $16.01. QXO has a 12-month low of $10.61 and a 12-month high of $24.69. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of -2.27, a PEG ratio of 4.09 and a beta of 2.41.

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.