DXP Enterprises (NASDAQ:DXPE) Sees Large Volume Increase – Here’s Why

DXP Enterprises, Inc. (NASDAQ:DXPE) saw unusually-high trading volume on Thursday . Approximately 101,530 shares traded hands during trading, a decline of 20% from the previous session’s volume of 127,314 shares.The stock last traded at $140.2750 and had previously closed at $139.69.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Zacks Research raised DXP Enterprises from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of DXP Enterprises in a report on Monday, December 29th. Wall Street Zen upgraded DXP Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Loop Capital set a $154.00 price target on DXP Enterprises in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $154.00.

DXP Enterprises Stock Down 0.3%

The company has a quick ratio of 2.94, a current ratio of 3.34 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $2.12 billion, a PE ratio of 25.40 and a beta of 0.96. The firm’s fifty day moving average is $138.72 and its 200-day moving average is $120.51.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.48. DXP Enterprises had a return on equity of 18.83% and a net margin of 4.40%.The company had revenue of $527.39 million for the quarter, compared to analyst estimates of $499.00 million. On average, equities research analysts predict that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Insider Buying and Selling at DXP Enterprises

In related news, Director Joseph R. Mannes sold 1,500 shares of DXP Enterprises stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $137.95, for a total value of $206,925.00. Following the sale, the director directly owned 13,964 shares in the company, valued at $1,926,333.80. The trade was a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. HM Payson & Co. purchased a new stake in shares of DXP Enterprises during the 3rd quarter worth $27,000. EverSource Wealth Advisors LLC grew its stake in shares of DXP Enterprises by 3,507.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 456 shares during the period. TD Waterhouse Canada Inc. purchased a new position in shares of DXP Enterprises in the 3rd quarter valued at about $58,000. Clearstead Advisors LLC increased its holdings in shares of DXP Enterprises by 164.5% in the 4th quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 306 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of DXP Enterprises by 35.4% in the fourth quarter. GAMMA Investing LLC now owns 860 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 225 shares during the period. 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.