DXP Enterprises (NASDAQ:DXPE) Stock Rating Lowered by Zacks Investment Research

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DXP Enterprises (NASDAQ:DXPE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, May 30th.

According to Zacks, “DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada, Mexico and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production (MROP) services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP’s breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. “

Other equities analysts have also recently issued research reports about the company. BidaskClub raised DXP Enterprises from a “hold” rating to a “buy” rating in a research note on Tuesday, March 27th. Stephens set a $48.00 target price on DXP Enterprises and gave the company a “buy” rating in a research note on Wednesday, March 21st.

DXP Enterprises traded up $0.38, hitting $39.48, during midday trading on Wednesday, Marketbeat Ratings reports. The company’s stock had a trading volume of 1,141 shares, compared to its average volume of 82,124. The company has a current ratio of 2.44, a quick ratio of 1.67 and a debt-to-equity ratio of 0.87. DXP Enterprises has a 12 month low of $24.86 and a 12 month high of $43.21. The stock has a market cap of $703.81 million, a PE ratio of 45.64 and a beta of 2.35.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Tuesday, May 8th. The industrial products company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The firm had revenue of $285.94 million for the quarter, compared to analysts’ expectations of $276.00 million. DXP Enterprises had a return on equity of 6.40% and a net margin of 1.74%. DXP Enterprises’s revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. equities analysts predict that DXP Enterprises will post 1.18 EPS for the current fiscal year.

In related news, VP Christopher T. Gregory sold 674 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $39.51, for a total value of $26,629.74. Following the completion of the sale, the vice president now owns 146 shares of the company’s stock, valued at approximately $5,768.46. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John Jay Jeffery sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the senior vice president now directly owns 22,858 shares of the company’s stock, valued at approximately $914,320. The disclosure for this sale can be found here. In the last three months, insiders sold 15,139 shares of company stock valued at $603,196. 9.20% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in DXP Enterprises in the 1st quarter worth approximately $111,000. MetLife Investment Advisors LLC acquired a new stake in DXP Enterprises in the 4th quarter worth approximately $206,000. Element Capital Management LLC acquired a new stake in DXP Enterprises in the 1st quarter worth approximately $206,000. Pinnacle Financial Partners Inc. acquired a new stake in DXP Enterprises in the 1st quarter worth approximately $215,000. Finally, Wedbush Securities Inc. acquired a new stake in DXP Enterprises in the 1st quarter worth approximately $249,000. Hedge funds and other institutional investors own 76.83% of the company’s stock.

About DXP Enterprises

DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates through three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.

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