StockNews.com Downgrades DXP Enterprises (NASDAQ:DXPE) to Hold

DXP Enterprises (NASDAQ:DXPE) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Separately, Stephens raised their price target on shares of DXP Enterprises from $75.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th.

DXP Enterprises Stock Performance

DXPE stock traded down $1.46 during midday trading on Tuesday, hitting $88.40. The company’s stock had a trading volume of 104,225 shares, compared to its average volume of 153,475. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 22.78 and a beta of 1.66. The company has a quick ratio of 1.78, a current ratio of 2.22 and a debt-to-equity ratio of 1.29. The stock’s 50-day moving average price is $94.21 and its 200 day moving average price is $75.70. DXP Enterprises has a 1 year low of $43.25 and a 1 year high of $107.06.

DXP Enterprises (NASDAQ:DXPE) last released its earnings results on Thursday, March 6th. The industrial products company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.49. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The company had revenue of $470.91 million for the quarter, compared to analysts’ expectations of $447.00 million. On average, equities analysts forecast that DXP Enterprises will post 4.07 EPS for the current year.

Insider Transactions at DXP Enterprises

In other news, CMO Paz Maestas sold 4,328 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $89.04, for a total value of $385,365.12. Following the sale, the chief marketing officer now owns 613,039 shares of the company’s stock, valued at $54,584,992.56. The trade was a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 22.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its holdings in shares of DXP Enterprises by 355.4% in the third quarter. Barclays PLC now owns 23,723 shares of the industrial products company’s stock worth $1,267,000 after acquiring an additional 18,514 shares during the period. JPMorgan Chase & Co. lifted its holdings in DXP Enterprises by 193.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 98,044 shares of the industrial products company’s stock worth $5,232,000 after purchasing an additional 64,611 shares in the last quarter. FMR LLC grew its holdings in DXP Enterprises by 21.8% during the 3rd quarter. FMR LLC now owns 776,950 shares of the industrial products company’s stock valued at $41,458,000 after buying an additional 139,027 shares in the last quarter. De Lisle Partners LLP grew its stake in DXP Enterprises by 96.7% during the third quarter. De Lisle Partners LLP now owns 21,654 shares of the industrial products company’s stock valued at $1,157,000 after acquiring an additional 10,645 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of DXP Enterprises by 0.3% in the third quarter. Principal Financial Group Inc. now owns 68,997 shares of the industrial products company’s stock worth $3,682,000 after purchasing an additional 178 shares during the period. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

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).