DXP Enterprises (NASDAQ:DXPE) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Separately, Stephens lifted their target price 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

Shares of DXPE stock opened at $78.12 on Thursday. DXP Enterprises has a 12-month low of $43.25 and a 12-month high of $107.06. The business’s fifty day simple moving average is $87.86 and its 200-day simple moving average is $78.13. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29. The company has a market cap of $1.23 billion, a PE ratio of 20.13 and a beta of 1.29.

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

Insider Buying and Selling

In related news, CFO Kent Nee Hung Yee sold 3,457 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $88.43, for a total value of $305,702.51. Following the transaction, the chief financial officer now owns 68,849 shares in the company, valued at approximately $6,088,317.07. This represents a 4.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David R. Little purchased 5,999 shares of DXP Enterprises stock in a transaction on Wednesday, March 26th. The shares were acquired at an average cost of $82.70 per share, with a total value of $496,117.30. Following the completion of the transaction, the chief executive officer now directly owns 1,257,593 shares in the company, valued at $104,002,941.10. The trade was a 0.48 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 12,785 shares of company stock worth $1,139,818 in the last 90 days. Insiders own 22.40% of the company’s stock.

Institutional Trading of DXP Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in DXP Enterprises by 355.4% in the third quarter. Barclays PLC now owns 23,723 shares of the industrial products company’s stock valued at $1,267,000 after purchasing an additional 18,514 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of DXP Enterprises by 193.3% in the third quarter. JPMorgan Chase & Co. now owns 98,044 shares of the industrial products company’s stock worth $5,232,000 after buying an additional 64,611 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in DXP Enterprises during the fourth quarter worth about $1,037,000. Intech Investment Management LLC purchased a new position in DXP Enterprises during the fourth quarter valued at approximately $447,000. Finally, Prudential Financial Inc. lifted its holdings in DXP Enterprises by 96.2% in the fourth quarter. Prudential Financial Inc. now owns 26,105 shares of the industrial products company’s stock valued at $2,157,000 after acquiring an additional 12,800 shares during the period. Institutional investors and hedge funds own 74.82% of the company’s stock.

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).