DXP Enterprises, Inc. (NASDAQ:DXPE – Get Free Report) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $161.84 and traded as low as $155.16. DXP Enterprises shares last traded at $158.38, with a volume of 208,956 shares trading hands.
DXP Enterprises News Summary
Here are the key news stories impacting DXP Enterprises this week:
- Positive Sentiment: Revenue was $587.2 million, modestly above analysts’ $584.5 million estimate, and coverage highlighted double-digit sales growth. Revenue results
- Neutral Sentiment: Some coverage raised the possibility that DXPE may be undervalued, but that view is tempered by earnings and fourth-quarter outlook concerns. Valuation and outlook article
- Negative Sentiment: Adjusted earnings were $1.64 per share, missing the $1.79 consensus estimate. Reports pointed to margin pressure, meaning sales growth did not translate into earnings as strongly as investors expected. Q3 margin analysis
- Negative Sentiment: The earnings miss has also raised questions about the fourth-quarter outlook, contributing to pressure on the shares after results. Stock reaction coverage
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on DXPE. Wall Street Zen downgraded shares of DXP Enterprises from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Stephens lifted their target price on shares of DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Weiss Ratings lowered shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.
Check Out Our Latest Stock Analysis on DXP Enterprises
DXP Enterprises Stock Performance
The firm has a fifty day moving average of $178.94 and a 200-day moving average of $161.97. The company has a quick ratio of 2.58, a current ratio of 2.99 and a debt-to-equity ratio of 1.51. The firm has a market cap of $2.18 billion, a P/E ratio of 30.31 and a beta of 1.03.
DXP Enterprises (NASDAQ:DXPE – Get Free Report) last posted its earnings results on Thursday, November 5th. The industrial products company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.15). DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%. The business had revenue of $587.18 million for the quarter, compared to the consensus estimate of $584.50 million.
Institutional Investors Weigh In On DXP Enterprises
A number of large investors have recently modified their holdings of DXPE. Russell Investments Group Ltd. grew its position in DXP Enterprises by 21.5% during the third quarter. Russell Investments Group Ltd. now owns 5,579 shares of the industrial products company’s stock valued at $1,011,000 after acquiring an additional 989 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in DXP Enterprises by 57.1% during the 3rd quarter. Maryland State Retirement & Pension System now owns 2,874 shares of the industrial products company’s stock valued at $521,000 after purchasing an additional 1,045 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of DXP Enterprises by 6.8% during the third quarter. Illinois Municipal Retirement Fund now owns 6,489 shares of the industrial products company’s stock valued at $1,176,000 after acquiring an additional 412 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of DXP Enterprises by 4.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,720 shares of the industrial products company’s stock worth $1,407,000 after purchasing an additional 312 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in DXP Enterprises by 3.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 2,921 shares of the industrial products company’s stock worth $529,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 74.82% of the company’s stock.
DXP Enterprises Company Profile
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.
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