DXP Enterprises (NASDAQ:DXPE) Rating Lowered to Hold at Wall Street Zen

DXP Enterprises (NASDAQ:DXPE) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday, Wall Street Zen reports.

A number of other equities research analysts have also recently weighed in on DXPE. Weiss Ratings cut DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, October 26th. Stephens lifted their price objective on shares of DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $183.00.

DXP Enterprises Price Performance

NASDAQ:DXPE opened at $156.54 on Friday. DXP Enterprises has a 12-month low of $84.04 and a 12-month high of $208.00. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 27.54 and a beta of 1.03. The stock’s 50 day moving average price is $178.35 and its two-hundred day moving average price is $162.11. The company has a quick ratio of 2.58, a current ratio of 2.99 and a debt-to-equity ratio of 1.51.

DXP Enterprises (NASDAQ:DXPE) last issued its earnings results on Thursday, November 5th. The industrial products company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.15). DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%. The business had revenue of $587.18 million for the quarter, compared to the consensus estimate of $584.50 million.

Hedge Funds Weigh In On DXP Enterprises

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new stake in DXP Enterprises in the 2nd quarter worth about $13,566,000. Congress Asset Management Co. grew its position in shares of DXP Enterprises by 21.7% during the 3rd quarter. Congress Asset Management Co. now owns 64,015 shares of the industrial products company’s stock worth $11,600,000 after purchasing an additional 11,423 shares in the last quarter. First Trust Advisors LP grew its position in shares of DXP Enterprises by 1.1% during the 1st quarter. First Trust Advisors LP now owns 68,634 shares of the industrial products company’s stock worth $9,590,000 after purchasing an additional 756 shares in the last quarter. Globeflex Capital L P bought a new position in shares of DXP Enterprises during the second quarter worth approximately $6,507,000. Finally, SummerHaven Investment Management LLC increased its holdings in shares of DXP Enterprises by 110.6% during the third quarter. SummerHaven Investment Management LLC now owns 17,271 shares of the industrial products company’s stock worth $3,130,000 after purchasing an additional 9,070 shares during the period. 74.82% of the stock is owned by institutional investors.

About DXP Enterprises

DXP Enterprises, Inc is a distributor of industrial products and provider of related services. It supplies maintenance, repair and operating products, including bearings, power-transmission components, safety equipment and other industrial supplies to customers in a range of industries.

The company also provides pump and rotating-equipment services, such as pump repair and packaged pumping systems, as well as supply-chain services that support customers’ procurement and inventory-management needs.