DXP Enterprises (NASDAQ:DXPE) Shares Down 4.2% – Here’s Why

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE – Get Free Report) were down 4.2% during trading on Tuesday. The stock traded as low as $171.09 and last traded at $171.4650. 110,857 shares traded hands during trading, a decline of 28% from the average daily volume of 153,969 shares. The stock had previously closed at $178.99.

Wall Street Analyst Weigh In

DXPE has been the subject of a number of research reports. Wall Street Zen upgraded DXP Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. Weiss Ratings raised DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 29th. Finally, Stephens upped their price objective on DXP Enterprises from $160.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, DXP Enterprises currently has an average rating of “Moderate Buy” and an average price target of $187.00.

Check Out Our Latest Analysis on DXP Enterprises

DXP Enterprises Price Performance

The company has a 50 day moving average of $186.01 and a 200-day moving average of $170.04. The stock has a market capitalization of $2.75 billion, a P/E ratio of 31.26 and a beta of 1.03. The company has a quick ratio of 2.58, a current ratio of 2.99 and a debt-to-equity ratio of 1.51.

DXP Enterprises (NASDAQ:DXPE – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.17. DXP Enterprises had a net margin of 4.35% and a return on equity of 18.51%. The firm had revenue of $576.46 million during the quarter, compared to the consensus estimate of $543.00 million.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DXPE. Public Employees Retirement System of Ohio bought a new stake in shares of DXP Enterprises during the 2nd quarter valued at about $33,000. Nykredit A S acquired a new stake in DXP Enterprises during the second quarter worth about $36,000. USA Financial Formulas acquired a new stake in DXP Enterprises during the third quarter worth about $39,000. GK Wealth Management LLC acquired a new stake in DXP Enterprises during the third quarter worth about $52,000. Finally, Nisa Investment Advisors LLC lifted its holdings in DXP Enterprises by 99.4% in the third quarter. Nisa Investment Advisors LLC now owns 351 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 175 shares during the last quarter. 74.82% of the stock is currently owned by institutional investors.

DXP Enterprises Company Profile

(Get Free Report)

DXP Enterprises, Inc is an industrial distribution and services company headquartered in Houston, Texas. The company supplies maintenance, repair and operating products used by industrial, commercial and government customers, with an emphasis on rotating equipment, fluid handling and related industrial applications.

Its product offerings include pumps, valves, bearings, power-transmission components, hose and rubber products, industrial supplies, safety equipment and other maintenance products.

Further Reading

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