QXO (NYSE:QXO) Reaches New 12-Month Low – Time to Sell?
by Danessa Lincoln · The Markets DailyQXO, Inc. (NYSE:QXO – Get Free Report) reached a new 52-week low during trading on Wednesday. The stock traded as low as $10.25 and last traded at $10.3350, with a volume of 5,583,840 shares traded. The stock had previously closed at $11.02.
Wall Street Analysts Forecast Growth
QXO has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of QXO from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley began coverage on shares of QXO in a research note on Tuesday, August 4th. They set an “overweight” rating and a $35.00 price target for the company. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a report on Wednesday, August 26th. Finally, DA Davidson set a $20.00 price objective on shares of QXO in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, QXO currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.21.
Check Out Our Latest Stock Analysis on QXO
QXO Price Performance
The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.29 and a current ratio of 4.11. The firm has a market capitalization of $11.58 billion, a P/E ratio of 86.08, a P/E/G ratio of 2.10 and a beta of 2.30. The stock’s 50 day simple moving average is $12.78 and its 200 day simple moving average is $15.78.
QXO (NYSE:QXO – Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. As a group, analysts expect that QXO, Inc. will post 0.25 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC increased its position in QXO by 73,350.0% during the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock valued at $29,000 after purchasing an additional 1,467 shares during the period. CoreCap Advisors LLC purchased a new stake in shares of QXO in the 3rd quarter worth approximately $41,000. Versant Capital Management Inc boosted its stake in shares of QXO by 718.7% during the third quarter. Versant Capital Management Inc now owns 3,635 shares of the company’s stock valued at $42,000 after purchasing an additional 3,191 shares in the last quarter. NFSG Corp boosted its stake in shares of QXO by 39.6% during the first quarter. NFSG Corp now owns 2,198 shares of the company’s stock valued at $43,000 after purchasing an additional 623 shares in the last quarter. Finally, Whipplewood Advisors LLC boosted its stake in shares of QXO by 12,604.8% during the first quarter. Whipplewood Advisors LLC now owns 2,668 shares of the company’s stock valued at $52,000 after purchasing an additional 2,647 shares in the last quarter. 58.68% of the stock is currently owned by institutional investors.
About QXO
QXO, Inc is a building products distribution company focused on supplying contractors and other construction professionals. Its product portfolio includes roofing materials, siding, windows, waterproofing products and related exterior building supplies. The company serves residential and commercial construction and repair markets through branch locations, distribution centers and digital ordering channels.
QXO operates through Beacon, a major distributor of roofing and complementary building products in the United States and Canada.