DXP Enterprises (NASDAQ:DXPE) Issues Quarterly Earnings Results, Beats Expectations By $0.48 EPS

DXP Enterprises (NASDAQ:DXPE) announced its earnings results on Wednesday. The industrial products company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.48, Zacks reports. DXP Enterprises had a net margin of 4.45% and a return on equity of 19.62%.

DXP Enterprises Price Performance

DXP Enterprises stock traded down $5.37 during mid-day trading on Wednesday, hitting $154.00. The stock had a trading volume of 178,678 shares, compared to its average volume of 124,983. DXP Enterprises has a one year low of $67.68 and a one year high of $161.11. The company has a current ratio of 2.77, a quick ratio of 2.36 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $2.41 billion, a P/E ratio of 29.17 and a beta of 1.00. The firm’s 50 day moving average is $127.28 and its 200 day moving average is $117.87.

Hedge Funds Weigh In On DXP Enterprises

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in DXP Enterprises by 29.4% during the 1st quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company’s stock valued at $417,000 after purchasing an additional 1,153 shares during the period. Millennium Management LLC grew its holdings in DXP Enterprises by 661.5% during the 1st 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 in the last quarter. Jane Street Group LLC grew its holdings in DXP Enterprises by 433.8% during the 1st quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company’s stock valued at $4,850,000 after buying an additional 47,909 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of DXP Enterprises by 9.5% during the second quarter. JPMorgan Chase & Co. now owns 67,018 shares of the industrial products company’s stock valued at $5,874,000 after buying an additional 5,820 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings 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 worth $412,000 after buying an additional 761 shares in the last quarter. Institutional investors own 74.82% of the company’s stock.

Analysts Set New Price Targets

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

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.