DXP Enterprises (NASDAQ:DXPE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a hold rating to a buy rating in a report released on Saturday morning.

Several other research analysts have also commented on the stock. Freedom Capital lowered shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings raised shares of DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Stephens increased their target price on shares of DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Zacks Research cut shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, DXP Enterprises has a consensus rating of “Moderate Buy” and an average price target of $187.00.

DXP Enterprises Price Performance

DXPE opened at $192.65 on Friday. The stock’s 50-day moving average price is $165.94 and its 200 day moving average price is $152.85. DXP Enterprises has a 12-month low of $84.04 and a 12-month high of $208.00. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 33.92 and a beta of 0.98. The company has a current ratio of 2.99, a quick ratio of 2.58 and a debt-to-equity ratio of 1.51.

DXP Enterprises (NASDAQ:DXPE) last released its earnings results on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.17. The company had revenue of $576.46 million during the quarter, compared to the consensus estimate of $543.00 million. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.

Insider Buying and Selling at DXP Enterprises

In other DXP Enterprises news, Director Timothy P. Halter sold 6,842 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $141.59, for a total value of $968,758.78. Following the sale, the director directly owned 30,000 shares in the company, valued at $4,247,700. This trade represents a 18.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Paz Maestas sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total value of $1,643,700.00. Following the sale, the chief marketing officer owned 590,262 shares of the company’s stock, valued at approximately $97,021,364.94. The trade was a 1.67% decrease in their position. The SEC filing for this sale provides additional information. 22.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in DXP Enterprises in the second quarter valued at $13,566,000. California State Teachers Retirement System grew its holdings in shares of DXP Enterprises by 26.3% during the first quarter. California State Teachers Retirement System now owns 15,623 shares of the industrial products company’s stock worth $2,183,000 after buying an additional 3,256 shares during the last quarter. Quantinno Capital Management LP increased its position in DXP Enterprises by 139.8% in the 1st quarter. Quantinno Capital Management LP now owns 8,817 shares of the industrial products company’s stock valued at $1,232,000 after acquiring an additional 5,140 shares during the period. Cetera Investment Advisers purchased a new stake in DXP Enterprises during the 1st quarter valued at approximately $335,000. Finally, First Trust Advisors LP lifted its position in DXP Enterprises by 1.1% during the 1st quarter. First Trust Advisors LP now owns 68,634 shares of the industrial products company’s stock worth $9,590,000 after acquiring an additional 756 shares during the period. Hedge funds and other institutional investors own 74.82% of the company’s stock.

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.