DXP Enterprises (NASDAQ:DXPE) Sets New 1-Year High – Here’s What Happened

DXP Enterprises, Inc. (NASDAQ:DXPE)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $154.48 and last traded at $153.3750, with a volume of 21154 shares trading hands. The stock had previously closed at $150.66.

Analyst Ratings Changes

A number of analysts have weighed in on DXPE shares. Wall Street Zen cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “buy (b-)” rating on shares of DXP Enterprises in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $95.00.

DXP Enterprises Stock Up 4.1%

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 stock has a market cap of $2.46 billion, a price-to-earnings ratio of 29.70 and a beta of 1.00. The firm’s 50-day simple moving average is $126.30 and its two-hundred day simple moving average is $117.53.

Institutional Trading of DXP Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in DXPE. Intrua Financial LLC acquired a new position in DXP Enterprises in the third quarter valued at approximately $1,848,000. Geode Capital Management LLC boosted its stake in DXP Enterprises by 2.9% during the second quarter. Geode Capital Management LLC now owns 329,543 shares of the industrial products company’s stock valued at $28,888,000 after buying an additional 9,216 shares during the period. Quadrature Capital Ltd bought a new stake in DXP Enterprises in the 2nd quarter worth approximately $712,000. Envestnet Asset Management Inc. boosted its stake in shares of DXP Enterprises by 23.7% during the second quarter. Envestnet Asset Management Inc. now owns 21,345 shares of the industrial products company’s stock valued at $1,871,000 after purchasing an additional 4,087 shares during the period. Finally, Thoroughbred Financial Services LLC purchased a new stake in DXP Enterprises in the 2nd quarter worth approximately $531,000. 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.