Zacks Investment Research upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a hold rating to a buy rating in a research note released on Wednesday morning. Zacks Investment Research currently has $48.00 price target on the industrial products company’s stock.
According to Zacks, “DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada, Mexico and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production (MROP) services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP’s breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. “
A number of other equities research analysts also recently weighed in on DXPE. BidaskClub raised DXP Enterprises from a buy rating to a strong-buy rating in a research note on Wednesday, July 25th. ValuEngine downgraded DXP Enterprises from a buy rating to a hold rating in a research note on Thursday, October 18th.
Shares of DXPE traded down $1.80 during midday trading on Wednesday, reaching $39.81. 52,405 shares of the stock were exchanged, compared to its average volume of 81,515. DXP Enterprises has a 12-month low of $24.89 and a 12-month high of $49.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.65 and a quick ratio of 1.74. The company has a market capitalization of $739.71 million, a PE ratio of 46.29 and a beta of 2.53.
DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.46 earnings per share for the quarter, topping 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 last year, the business earned $0.16 EPS. The business’s quarterly revenue was up 22.3% on a year-over-year basis. On average, equities research analysts expect that DXP Enterprises will post 1.7 earnings per share for the current fiscal year.
In related news, insider Kent Nee Hung Yee sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $43.35, for a total value of $216,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP David C. Vinson sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $48.00, for a total value of $192,000.00. Following the completion of the transaction, the vice president now directly owns 6,563 shares in the company, valued at $315,024. The disclosure for this sale can be found here. 9.20% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Piedmont Investment Advisors LLC bought a new position in shares of DXP Enterprises in the 2nd quarter valued at approximately $141,000. SG Americas Securities LLC raised its stake 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 in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of DXP Enterprises by 48.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 5,857 shares of the industrial products company’s stock valued at $235,000 after acquiring an additional 1,900 shares in the last quarter. Stone Ridge Asset Management LLC bought a new position in shares of DXP Enterprises in the 3rd quarter valued at approximately $283,000. Finally, GSA Capital Partners LLP bought a new position in shares of DXP Enterprises in the 2nd quarter valued at approximately $328,000. 76.63% of the stock is currently owned by institutional investors and hedge funds.
About DXP Enterprises
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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