DXP Enterprises (NASDAQ:DXPE) Shares Gap Down After Earnings Miss

DXP Enterprises, Inc. (NASDAQ:DXPE) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $181.51, but opened at $161.82. DXP Enterprises shares last traded at $155.6130, with a volume of 93,649 shares changing hands.

The industrial products company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.03). DXP Enterprises had a net margin of 4.40% and a return on equity of 18.83%.

Analysts Set New Price Targets

DXPE has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of DXP Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Loop Capital set a $154.00 price objective on shares of DXP Enterprises in a research report on Monday, March 2nd. Finally, Zacks Research upgraded shares of DXP Enterprises from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $154.00.

Insider Buying and Selling at DXP Enterprises

In other news, Director Joseph R. Mannes sold 1,500 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $137.95, for a total transaction of $206,925.00. Following the completion of the sale, the director directly owned 13,964 shares in the company, valued at $1,926,333.80. This represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 22.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. KBC Group NV bought a new position in DXP Enterprises during the first quarter worth $51,000. EverSource Wealth Advisors LLC raised its holdings in DXP Enterprises by 3,507.7% during the second quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock worth $41,000 after buying an additional 456 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of DXP Enterprises in the third quarter valued at about $58,000. Clearstead Advisors LLC raised its holdings in shares of DXP Enterprises by 164.5% in the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 306 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of DXP Enterprises by 35.4% in the fourth quarter. GAMMA Investing LLC now owns 860 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 225 shares during the last quarter. 74.82% of the stock is owned by institutional investors.

DXP Enterprises Stock Performance

The company’s fifty day moving average price is $147.95 and its 200 day moving average price is $127.27. The company has a market cap of $2.28 billion, a PE ratio of 27.41 and a beta of 1.07. The company has a debt-to-equity ratio of 1.64, a current ratio of 3.34 and a quick ratio of 2.94.

DXP Enterprises Company Profile

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.