DXP Enterprises (NASDAQ:DXPE) Updates Q1 2023 Earnings Guidance

DXP Enterprises (NASDAQ:DXPE – Get Rating) issued an update on its first quarter 2023 earnings guidance on Friday morning. The company provided earnings per share guidance of $0.86-$0.92 for the period, compared to the consensus earnings per share estimate of $0.56. The company issued revenue guidance of $424.30 million-$424.30 million, compared to the consensus revenue estimate of $369.00 million.

DXP Enterprises Stock Performance

DXPE traded up $0.40 on Friday, reaching $32.27. The company had a trading volume of 71,223 shares, compared to its average volume of 80,469. DXP Enterprises has a fifty-two week low of $22.06 and a fifty-two week high of $34.74. The stock has a market cap of $560.21 million, a P/E ratio of 11.82 and a beta of 1.91. The company’s fifty day moving average is $26.84 and its 200 day moving average is $27.75. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.91 and a current ratio of 2.40.

Analyst Ratings Changes

DXPE has been the topic of a number of research reports. StockNews.com assumed coverage on shares of DXP Enterprises in a research note on Thursday, May 18th. They issued a strong-buy rating on the stock. Stephens reissued an overweight rating and issued a $40.00 price objective on shares of DXP Enterprises in a report on Tuesday, March 21st.

Institutional Trading of DXP Enterprises

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in shares of DXP Enterprises by 35.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 337,033 shares of the industrial products company’s stock worth $10,323,000 after acquiring an additional 88,103 shares during the period. Medina Value Partners LLC lifted its holdings in shares of DXP Enterprises by 25.3% during the 4th quarter. Medina Value Partners LLC now owns 361,589 shares of the industrial products company’s stock worth $9,962,000 after acquiring an additional 73,037 shares during the period. Millennium Management LLC lifted its stake in DXP Enterprises by 553.1% in the 2nd quarter. Millennium Management LLC now owns 73,182 shares of the industrial products company’s stock valued at $2,242,000 after purchasing an additional 61,976 shares during the last quarter. Invesco Ltd. lifted its stake in DXP Enterprises by 11.8% in the 1st quarter. Invesco Ltd. now owns 560,025 shares of the industrial products company’s stock valued at $15,171,000 after purchasing an additional 58,894 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in DXP Enterprises by 30.4% in the 1st quarter. Ameriprise Financial Inc. now owns 245,630 shares of the industrial products company’s stock valued at $6,612,000 after purchasing an additional 57,326 shares during the last quarter. Institutional investors own 71.11% of the company’s stock.

About DXP Enterprises

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DXP Enterprises, Inc engages in the business of distributing maintenance, repair, and operating (MRO) products and services to customers serving a variety of end markets. It operates through the following segments: Service Centers (SC), Supply Chain Services (SCS), Innovative Pumping Solutions (IPS), and Corporate.