DXP Enterprises Inc (NASDAQ:DXPE) Receives Average Rating of “Hold” from Brokerages

DXP Enterprises Inc (NASDAQ:DXPE) has received an average rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $47.00.

A number of research firms have commented on DXPE. Sidoti lowered DXP Enterprises from a “buy” rating to a “neutral” rating in a research report on Thursday, July 11th. Stephens set a $47.00 target price on DXP Enterprises and gave the company a “buy” rating in a research report on Wednesday, May 8th. Jefferies Financial Group began coverage on DXP Enterprises in a research report on Thursday, April 25th. They set a “hold” rating and a $47.00 target price on the stock. Zacks Investment Research lowered DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, ValuEngine lowered DXP Enterprises from a “hold” rating to a “sell” rating in a research report on Friday, July 12th.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of DXP Enterprises by 1.4% during the 2nd quarter. BlackRock Inc. now owns 2,500,228 shares of the industrial products company’s stock valued at $94,734,000 after purchasing an additional 34,365 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of DXP Enterprises by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,010,183 shares of the industrial products company’s stock valued at $28,124,000 after purchasing an additional 13,270 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of DXP Enterprises by 1.8% during the 1st quarter. Frontier Capital Management Co. LLC now owns 781,517 shares of the industrial products company’s stock valued at $30,417,000 after purchasing an additional 14,081 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of DXP Enterprises by 1.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 320,583 shares of the industrial products company’s stock valued at $12,477,000 after purchasing an additional 4,274 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC boosted its position in shares of DXP Enterprises by 0.7% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 279,812 shares of the industrial products company’s stock valued at $10,602,000 after purchasing an additional 1,925 shares in the last quarter. Institutional investors own 79.37% of the company’s stock.

Shares of NASDAQ DXPE traded down $1.08 during trading on Friday, reaching $31.65. The company had a trading volume of 32,683 shares, compared to its average volume of 80,906. The company has a fifty day simple moving average of $34.14. DXP Enterprises has a 12 month low of $26.95 and a 12 month high of $49.15. The company has a market cap of $575.01 million, a PE ratio of 16.31, a P/E/G ratio of 0.78 and a beta of 2.65. The company has a current ratio of 2.56, a quick ratio of 1.75 and a debt-to-equity ratio of 0.87.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. DXP Enterprises had a return on equity of 12.86% and a net margin of 3.19%. The firm had revenue of $333.30 million for the quarter, compared to analyst estimates of $331.07 million. During the same quarter in the previous year, the company posted $0.61 EPS. The business’s revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts forecast that DXP Enterprises will post 2.39 EPS for the current year.

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 in 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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