DXP Enterprises, Inc. (NASDAQ:DXPE) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) have been given an average recommendation of “Moderate Buy” by the five research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $187.00.

Several research firms have commented on DXPE. Stephens upped their price objective on shares of DXP Enterprises from $160.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Weiss Ratings downgraded shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 20th. Zacks Research lowered shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Wall Street Zen raised shares of DXP Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Freedom Capital lowered shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th.

DXP Enterprises Stock Performance

Shares of DXPE opened at $187.73 on Tuesday. The firm has a market cap of $2.91 billion, a PE ratio of 33.05 and a beta of 0.98. The stock’s fifty day moving average price is $174.37 and its two-hundred day moving average price is $158.84. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.99 and a quick ratio of 2.58. DXP Enterprises has a 1 year low of $84.04 and a 1 year high of $208.00.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.17. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.The company had revenue of $576.46 million during the quarter, compared to the consensus estimate of $543.00 million.

Insider Activity

In other news, CMO Paz Maestas sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total value of $1,643,700.00. Following the completion of the transaction, the chief marketing officer directly owned 590,262 shares of the company’s stock, valued at $97,021,364.94. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.00% of the stock is currently owned by corporate insiders.

Institutional Trading of DXP Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in DXP Enterprises by 29.4% in the 1st quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 1,153 shares during the period. Millennium Management LLC increased its position in shares of DXP Enterprises by 661.5% during the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock valued at $10,608,000 after buying an additional 112,021 shares during the period. Jane Street Group LLC lifted its holdings in shares of DXP Enterprises by 433.8% in the first quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company’s stock worth $4,850,000 after buying an additional 47,909 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of DXP Enterprises by 9.5% in the second quarter. JPMorgan Chase & Co. now owns 67,018 shares of the industrial products company’s stock worth $5,874,000 after buying an additional 5,820 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of DXP Enterprises by 19.3% in the second quarter. Russell Investments Group Ltd. now owns 4,699 shares of the industrial products company’s stock valued at $412,000 after acquiring an additional 761 shares during the period. 74.82% of the stock is currently owned by institutional investors.

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.