DXP Enterprises (NASDAQ:DXPE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a hold rating to a buy rating in a report published on Saturday.

DXPE has been the topic of a number of other reports. Zacks Research raised shares of DXP Enterprises from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Weiss Ratings restated a “buy (b-)” rating on shares of DXP Enterprises in a research report on Monday, December 29th. Finally, Loop Capital set a $154.00 target price on DXP Enterprises in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat, DXP Enterprises currently has a consensus rating of “Buy” and an average price target of $154.00.

DXP Enterprises Stock Down 0.7%

NASDAQ DXPE opened at $135.74 on Friday. The company has a quick ratio of 2.94, a current ratio of 3.34 and a debt-to-equity ratio of 1.64. DXP Enterprises has a 52 week low of $67.68 and a 52 week high of $171.70. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 25.23 and a beta of 0.96. The company has a fifty day moving average of $138.95 and a two-hundred day moving average of $120.69.

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

Insider Buying and Selling

In related news, Director Joseph R. Mannes sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $137.95, for a total value of $206,925.00. Following the transaction, the director owned 13,964 shares of the company’s stock, valued at $1,926,333.80. This trade represents a 9.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 22.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DXP Enterprises

A number of institutional investors have recently modified their holdings of DXPE. Wasatch Advisors LP raised its stake in shares of DXP Enterprises by 480.2% during the fourth quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company’s stock valued at $82,859,000 after acquiring an additional 624,638 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of DXP Enterprises by 12,369,100.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company’s stock valued at $40,785,000 after purchasing an additional 371,073 shares during the period. Wellington Management Group LLP grew its stake in DXP Enterprises by 12.7% in the fourth quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company’s stock worth $133,867,000 after purchasing an additional 137,577 shares in the last quarter. Millennium Management LLC grew its stake in DXP Enterprises by 661.5% in the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock worth $10,608,000 after purchasing an additional 112,021 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in DXP Enterprises by 24.5% during the 2nd quarter. American Century Companies Inc. now owns 562,210 shares of the industrial products company’s stock worth $49,278,000 after purchasing an additional 110,482 shares during the period. 74.82% of the stock is owned by hedge funds and other institutional investors.

About DXP Enterprises

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.