RBC Capital Cuts QXO Price Target to $18

RBC Capital reiterated its Outperform rating on QXO, Inc. on October 7, 2026, while lowering its price target to $18.00 from $27.00, a 65.59% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:30 PM EDT

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RBC Capital cut its price target on QXO, Inc. ($QXO) to $18 from $27 on October 7, 2026, and rates the stock "Outperform".

Since the rating, $QXO is down 8.7% after 1 week and down 4.0% to date (from the $11.31 close on Oct 7, 2026).

QXO QXO, Inc.

$10.86 -44.93% year to date

Daily close · Oct 16, 2026

Key Points

RBC Capital reiterated its Outperform rating on QXO, Inc. on October 7, 2026, moving its price target down to $18.00 from $27.00.
RBC Capital's $18 price target implies 65.59% upside from QXO, Inc.'s ($QXO) current $10.87 share price.
QXO, Inc. shares recently traded around $10.87, staying well below the newly adjusted price target.
Wall Street maintains an overall Strong Buy recommendation for the industrial distribution firm, backed by 19 analyst opinions.

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On October 7, 2026, RBC Capital reiterated its Outperform rating on QXO, Inc. (NYSE:QXO) while adjusting its price target down to $18.00 from $27.00. The stock closed at $11.31 on the day of the rating update.

Analyst rating track record

RBC Capital vs. the S&P 500

YTD return -1.23% hypothetical

All-time return -1.23% S&P 500 +0.29%

vs. S&P 500 -1.52% behind the index

Hypothetical returns from RBC Capital's disclosed trades, not real profit or advice. How we model this.

RBC Capital's Call on QXO

In its research note on October 7, 2026, RBC Capital kept its Outperform rating intact on QXO, Inc. while lowering its price target from $27.00 to $18.00. The updated target sits above where shares recently changed hands, though it reflects a more cautious outlook than the firm's prior target.

Other Institutional Activity in QXO

Orbis Allan Gray Ltd held its position steady, ending with 73,951,325 shares valued at about $803,111,364. Baillie Gifford & Co grew its holdings by 34,243,509 shares, ending with 47,867,886 shares worth about $519,845,225. Affinity Partners Gp LP grew its holdings by 13,074 shares, ending with 32,698,176 shares worth about $355,102,180. Fred Alger Management, LLC grew its holdings by 4,958,039 shares, ending with 27,362,195 shares worth about $297,153,428.

QXO, Inc. Stock Up 5.2%

QXO, Inc. shares recently traded around $10.87 as of October 16, 2026, down about 3.9% from the $11.31 close on the day RBC Capital issued its update. The stock recently traded below its 50-day moving average of $12.90 and below its 200-day moving average of $18.02. Shares sit near the bottom of their 52-week range, which runs from a low of $10.17 to a high of $27.61.

12-month forecast

$QXO price target

QXO, Inc. daily closes and this analyst's $18 target. Not advice.

Recent Earnings

QXO, Inc. posted trailing-twelve-month revenue of $9,898,200,064.00 alongside negative earnings of $0.83 per share. The company reported a net profit margin of negative 5.2% and a return on equity of negative 4.6%. Its next earnings report is scheduled for November 5, 2026.

Insider Buying and Selling at QXO, Inc.

MFN Partners LP, a beneficial owner of more than 10% of a class of security, sold 7,000,000 shares on November 6, 2024, at an average price of $15.05 for a total value of $105,350,000.00.

Analysts Set New Price Targets

Keybanc maintained an Overweight rating on July 1, 2026, lowering its target to $28.00 from $32.00. RBC Capital maintained an Outperform rating on July 10, 2026, with a target of $27.00. Citigroup maintained a Buy rating on July 13, 2026, lowering its target to $25.00 from $28.00. DA Davidson initiated coverage with a Buy rating and a $26.00 price target on August 25, 2026. Across 19 analyst opinions, the stock carries a consensus Strong Buy recommendation and a mean price target of $26.00.

About QXO

QXO, Inc. distributes roofing, waterproofing, and other building materials to contractors and builders across the United States and Canada. Based in Greenwich, Connecticut, and led by CEO Bradley S. Jacobs, the company supplies residential construction products such as asphalt shingles, metal roofing, siding, and gutters. Analyst updates from firms like RBC Capital help investors track how Wall Street views the company's growth path in the industrial distribution sector.

Bottom Line

Investors will look toward QXO, Inc.'s upcoming earnings report on November 5, 2026, for fresh updates on financial performance and demand trends. Market participants continue to monitor how shares trade relative to updated Wall Street price targets.