DXP Enterprises (NASDAQ:DXPE – Get Free Report) was downgraded by research analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.
DXPE has been the subject of several other research reports. Wall Street Zen upgraded shares of DXP Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Zacks Research upgraded shares of DXP Enterprises from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Finally, Loop Capital set a $154.00 price objective on shares of DXP Enterprises in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, DXP Enterprises has a consensus rating of “Buy” and a consensus target price of $154.00.
Check Out Our Latest Report on DXPE
DXP Enterprises Stock Down 4.5%
DXP Enterprises (NASDAQ:DXPE – Get Free Report) last posted its earnings results on Thursday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.12). DXP Enterprises had a net margin of 4.27% and a return on equity of 18.16%. The firm had revenue of $521.66 million during the quarter, compared to the consensus estimate of $531.00 million. Equities analysts forecast that DXP Enterprises will post 6.2 earnings per share for the current fiscal year.
Insider Activity at DXP Enterprises
In related news, Director Joseph R. Mannes sold 1,500 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $137.95, for a total value of $206,925.00. Following the completion of the transaction, the director directly owned 13,964 shares of the company’s stock, valued at approximately $1,926,333.80. This represents a 9.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.40% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On DXP Enterprises
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC lifted its position in DXP Enterprises by 3.4% during the 4th quarter. ProShare Advisors LLC now owns 2,527 shares of the industrial products company’s stock worth $277,000 after buying an additional 82 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in DXP Enterprises by 0.9% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 10,857 shares of the industrial products company’s stock valued at $950,000 after acquiring an additional 100 shares during the period. Private Advisor Group LLC grew its position in shares of DXP Enterprises by 1.2% during the 3rd quarter. Private Advisor Group LLC now owns 10,247 shares of the industrial products company’s stock worth $1,220,000 after purchasing an additional 122 shares in the last quarter. Amalgamated Bank grew its position in shares of DXP Enterprises by 3.5% during the 3rd quarter. Amalgamated Bank now owns 3,749 shares of the industrial products company’s stock worth $446,000 after purchasing an additional 128 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of DXP Enterprises by 1.4% during the 3rd quarter. Federated Hermes Inc. now owns 12,726 shares of the industrial products company’s stock worth $1,515,000 after acquiring an additional 179 shares in the last quarter. 74.82% of the stock is owned by institutional investors.
DXP Enterprises Company Profile
DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.
Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.
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