DXP Enterprises (NASDAQ:DXPE) Upgraded at Freedom Broker

Freedom Broker upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a hold rating to a buy rating in a research note released on Monday morning, Marketbeat reports. The brokerage currently has $175.00 price objective on the industrial products company’s stock, down from their prior price objective of $180.00.

A number of other research analysts also recently commented on the stock. Wall Street Zen downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday. Stephens boosted their price objective on shares of DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Weiss Ratings downgraded DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, October 26th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, DXP Enterprises has a consensus rating of “Moderate Buy” and a consensus target price of $183.00.

DXP Enterprises Stock Down 0.4%

DXPE stock opened at $154.78 on Monday. The firm’s 50-day simple moving average is $177.14 and its 200 day simple moving average is $162.36. The stock has a market cap of $2.40 billion, a PE ratio of 25.75 and a beta of 1.03. The company has a quick ratio of 2.56, a current ratio of 2.96 and a debt-to-equity ratio of 1.43. DXP Enterprises has a fifty-two week low of $84.04 and a fifty-two week high of $208.00.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Thursday, November 5th. The industrial products company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.15). DXP Enterprises had a return on equity of 18.67% and a net margin of 4.45%. The company had revenue of $587.18 million for the quarter, compared to the consensus estimate of $584.50 million.

Institutional Investors Weigh In On DXP Enterprises

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new position in shares of DXP Enterprises during the 2nd quarter worth about $13,566,000. First Trust Advisors LP increased its stake in shares of DXP Enterprises by 1.1% during the first 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 during the period. Congress Asset Management Co. increased its position in 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 buying an additional 11,423 shares during the period. Globeflex Capital L P bought a new position in DXP Enterprises during the second quarter worth about $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.