DXP Enterprises (NASDAQ:DXPE) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a hold rating in a research report report published on Friday.

Separately, Stephens upped their price target on DXP Enterprises from $75.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th.

DXP Enterprises Trading Up 0.9%

Shares of DXPE stock opened at $89.76 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22. The stock has a fifty day simple moving average of $83.86 and a two-hundred day simple moving average of $84.21. The firm has a market capitalization of $1.41 billion, a PE ratio of 23.13 and a beta of 1.26. DXP Enterprises has a 52-week low of $43.25 and a 52-week high of $107.06.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.06. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The firm had revenue of $476.57 million during the quarter, compared to analyst estimates of $477.00 million. On average, analysts predict that DXP Enterprises will post 4.07 EPS for the current fiscal year.

Insider Activity at DXP Enterprises

In other news, CEO David R. Little acquired 5,999 shares of DXP Enterprises stock in a transaction on Wednesday, March 26th. The shares were acquired at an average price of $82.70 per share, with a total value of $496,117.30. Following the purchase, the chief executive officer now directly owns 1,257,593 shares in the company, valued at $104,002,941.10. The trade was a 0.48% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy P. Halter sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $89.75, for a total value of $448,750.00. Following the sale, the director now directly owns 45,925 shares in the company, valued at $4,121,768.75. This trade represents a 9.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,785 shares of company stock valued at $1,139,818. Corporate insiders own 22.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in DXP Enterprises by 193.3% during the third quarter. JPMorgan Chase & Co. now owns 98,044 shares of the industrial products company’s stock valued at $5,232,000 after purchasing an additional 64,611 shares during the last quarter. Longboard Asset Management LP purchased a new stake in shares of DXP Enterprises during the 4th quarter valued at about $216,000. Savant Capital LLC bought a new position in shares of DXP Enterprises in the 4th quarter valued at about $230,000. Avidian Wealth Enterprises LLC purchased a new position in DXP Enterprises in the fourth quarter worth about $371,000. Finally, Principal Financial Group Inc. grew its position in DXP Enterprises by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 71,501 shares of the industrial products company’s stock worth $5,907,000 after acquiring an additional 2,504 shares in the last quarter. 74.82% of the stock is owned by hedge funds and other institutional investors.

DXP Enterprises Company Profile

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).