DXP Enterprises (NASDAQ:DXPE) Shares Down 8.6% – Here’s Why

DXP Enterprises, Inc. (NASDAQ:DXPE) fell 8.6% during mid-day trading on Friday . The stock traded as low as $73.14 and last traded at $71.73. 109,458 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 151,099 shares. The stock had previously closed at $78.45.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Stephens upped their price objective on shares of DXP Enterprises from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. StockNews.com cut DXP Enterprises from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

DXP Enterprises Price Performance

The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 19.92 and a beta of 1.67. 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 stock’s 50 day simple moving average is $94.43 and its two-hundred day simple moving average is $72.44.

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

Institutional Investors Weigh In On DXP Enterprises

Several large investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of DXP Enterprises by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,293 shares of the industrial products company’s stock worth $2,751,000 after buying an additional 4,321 shares during the period. State of Wyoming raised its stake in DXP Enterprises by 21.9% during the fourth quarter. State of Wyoming now owns 8,724 shares of the industrial products company’s stock worth $721,000 after acquiring an additional 1,569 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of DXP Enterprises during the fourth quarter valued at $311,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of DXP Enterprises by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company’s stock valued at $59,513,000 after purchasing an additional 38,900 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of DXP Enterprises in the 4th quarter worth about $159,000. 74.82% of the stock is currently owned by institutional investors.

About DXP Enterprises

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).