DXP Enterprises (NASDAQ:DXPE) Hits New 1-Year High – What’s Next?

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) reached a new 52-week high during trading on Monday . The stock traded as high as $133.76 and last traded at $133.70, with a volume of 21283 shares changing hands. The stock had previously closed at $130.05.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DXPE shares. Wall Street Zen lowered shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DXP Enterprises in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, DXP Enterprises has a consensus rating of “Buy” and a consensus price target of $95.00.

DXP Enterprises Price Performance

The stock’s 50 day simple moving average is $112.96 and its 200-day simple moving average is $113.68. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.36 and a current ratio of 2.77. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 26.51 and a beta of 1.00.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings data on Thursday, November 6th. The industrial products company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.11). DXP Enterprises had a net margin of 4.45% and a return on equity of 19.62%. The company had revenue of $513.72 million for the quarter, compared to analysts’ expectations of $499.00 million. Equities research analysts anticipate that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Institutional Investors Weigh In On DXP Enterprises

Large investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co lifted its stake in DXP Enterprises by 0.9% during 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. Apollon Wealth Management LLC raised its holdings in shares of DXP Enterprises by 2.4% during the third quarter. Apollon Wealth Management LLC now owns 5,119 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 119 shares during the last quarter. Private Advisor Group LLC lifted its position in DXP Enterprises by 1.2% during the third quarter. Private Advisor Group LLC now owns 10,247 shares of the industrial products company’s stock valued at $1,220,000 after purchasing an additional 122 shares during the period. Amalgamated Bank lifted its position in DXP Enterprises by 3.5% during the third quarter. Amalgamated Bank now owns 3,749 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 128 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in DXP Enterprises by 1.4% in the third quarter. Federated Hermes Inc. now owns 12,726 shares of the industrial products company’s stock valued at $1,515,000 after purchasing an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

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.