ValuEngine upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a hold rating to a buy rating in a report issued on Wednesday.
A number of other brokerages also recently issued reports on DXPE. BidaskClub downgraded DXP Enterprises from a sell rating to a strong sell rating in a report on Tuesday, October 23rd. Zacks Investment Research raised DXP Enterprises from a hold rating to a buy rating and set a $48.00 target price for the company in a research note on Wednesday, November 7th. Finally, Stephens reiterated a buy rating and set a $49.00 price target on shares of DXP Enterprises in a research report on Wednesday, November 14th.
Shares of NASDAQ:DXPE opened at $32.04 on Wednesday. DXP Enterprises has a 12-month low of $26.95 and a 12-month high of $49.50. The company has a market capitalization of $567.70 million, a price-to-earnings ratio of 37.26 and a beta of 2.47. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.65 and a quick ratio of 1.80.
DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.09. DXP Enterprises had a return on equity of 10.48% and a net margin of 2.66%. The company had revenue of $308.00 million during the quarter, compared to the consensus estimate of $301.81 million. During the same period in the previous year, the company posted $0.16 earnings per share. DXP Enterprises’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, sell-side analysts anticipate that DXP Enterprises will post 1.67 EPS for the current year.
Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in shares of DXP Enterprises by 65.0% in the 2nd quarter. SG Americas Securities LLC now owns 4,684 shares of the industrial products company’s stock valued at $179,000 after acquiring an additional 1,845 shares during the last quarter. Ibex Investors LLC acquired a new stake in shares of DXP Enterprises in the 3rd quarter valued at approximately $201,000. Wedbush Securities Inc. acquired a new stake in shares of DXP Enterprises in the 3rd quarter valued at approximately $209,000. Teachers Retirement System of The State of Kentucky raised its holdings in DXP Enterprises by 48.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 5,857 shares of the industrial products company’s stock worth $235,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new position in DXP Enterprises during the third quarter worth $283,000. 79.48% of the stock is currently owned by institutional investors.
DXP Enterprises Company Profile
DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates through three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.
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