DXP Enterprises (NASDAQ:DXPE) Sets New 12-Month High – Time to Buy?

DXP Enterprises, Inc. (NASDAQ:DXPE) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $105.94 and last traded at $102.56, with a volume of 369673 shares. The stock had previously closed at $102.67.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Stephens increased their price objective on DXP Enterprises from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, November 7th.

DXP Enterprises Trading Down 0.1 %

The business’s 50 day simple moving average is $79.94 and its 200 day simple moving average is $61.66. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 26.43 and a beta of 1.67.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Monday, November 4th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.48. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The firm had revenue of $472.94 million for the quarter. During the same quarter last year, the firm earned $0.93 EPS. Research analysts anticipate that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Insider Transactions at DXP Enterprises

In other news, insider Christopher T. Gregory sold 1,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $73.10, for a total transaction of $73,100.00. Following the transaction, the insider now directly owns 29,606 shares in the company, valued at $2,164,198.60. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new stake in shares of DXP Enterprises in the 3rd quarter valued at approximately $41,000. SG Americas Securities LLC purchased a new position in DXP Enterprises in the third quarter worth $197,000. Jane Street Group LLC lifted its holdings in DXP Enterprises by 9.6% in the third quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company’s stock valued at $316,000 after acquiring an additional 517 shares during the period. Federated Hermes Inc. boosted its position in shares of DXP Enterprises by 8.8% during the 2nd quarter. Federated Hermes Inc. now owns 10,962 shares of the industrial products company’s stock worth $502,000 after purchasing an additional 888 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in shares of DXP Enterprises during the 3rd quarter worth $1,107,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.

DXP Enterprises Company Profile

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).