StockNews.com Downgrades DXP Enterprises (NASDAQ:DXPE) to Hold

by · The Cerbat Gem

DXP Enterprises (NASDAQ:DXPE – Get Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Separately, Stephens boosted their price target on DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th.

Read Our Latest Stock Report on DXPE

DXP Enterprises Price Performance

Shares of NASDAQ:DXPE remained flat at $78.88 on Friday. The stock had a trading volume of 1,545,059 shares, compared to its average volume of 117,827. The company has a market capitalization of $1.24 billion, a PE ratio of 20.33 and a beta of 1.70. DXP Enterprises has a fifty-two week low of $30.08 and a fifty-two week high of $82.33. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78. The stock’s 50 day simple moving average is $66.14 and its 200 day simple moving average is $55.48.

DXP Enterprises (NASDAQ:DXPE – Get Free Report) last released its quarterly earnings data on Monday, November 4th. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The company had revenue of $472.94 million for the quarter. During the same quarter in the previous year, the business earned $0.93 earnings per share. Equities analysts forecast that DXP Enterprises will post 4.07 EPS for the current fiscal year.

Insider Transactions at DXP Enterprises

In other DXP Enterprises news, insider Christopher T. Gregory sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $73.10, for a total value of $73,100.00. Following the completion of the sale, the insider now owns 29,606 shares of the company’s stock, valued at approximately $2,164,198.60. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On DXP Enterprises

Several hedge funds have recently modified their holdings of DXPE. Renaissance Technologies LLC raised its stake in DXP Enterprises by 125.3% in the 2nd quarter. Renaissance Technologies LLC now owns 111,300 shares of the industrial products company’s stock worth $5,102,000 after acquiring an additional 61,900 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of DXP Enterprises by 4.1% in the third quarter. Pacer Advisors Inc. now owns 744,587 shares of the industrial products company’s stock valued at $39,731,000 after purchasing an additional 29,131 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of DXP Enterprises by 39.2% in the third quarter. Assenagon Asset Management S.A. now owns 52,858 shares of the industrial products company’s stock worth $2,821,000 after purchasing an additional 14,886 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of DXP Enterprises during the third quarter worth about $1,107,000. Finally, FMR LLC boosted its position in DXP Enterprises by 21.8% in the third quarter. FMR LLC now owns 776,950 shares of the industrial products company’s stock valued at $41,458,000 after buying an additional 139,027 shares during the last quarter. Institutional investors and hedge funds own 74.82% of the company’s stock.

About DXP Enterprises

(Get Free Report)

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).

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