DXP Enterprises (NASDAQ:DXPE) Raised to “Buy” at StockNews.com

DXP Enterprises (NASDAQ:DXPE) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Separately, Stephens raised their target price on DXP Enterprises from $75.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th.

DXP Enterprises Price Performance

DXP Enterprises stock opened at $82.90 on Wednesday. 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 firm has a market capitalization of $1.30 billion, a P/E ratio of 21.37 and a beta of 1.66. DXP Enterprises has a one year low of $43.25 and a one year high of $107.06. The business has a fifty day moving average price of $92.43 and a 200-day moving average price of $76.92.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings data on Thursday, March 6th. The industrial products company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.49. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. The company had revenue of $470.91 million for the quarter, compared to analysts’ expectations of $447.00 million. As a group, equities research analysts forecast that DXP Enterprises will post 4.07 EPS for the current year.

Insider Activity

In other news, CMO Paz Maestas sold 4,328 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $89.04, for a total transaction of $385,365.12. Following the completion of the sale, the chief marketing officer now owns 613,039 shares of the company’s stock, valued at $54,584,992.56. The trade was a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy P. Halter sold 5,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $89.75, for a total transaction of $448,750.00. Following the completion of the sale, the director now directly owns 45,925 shares of the company’s stock, valued at $4,121,768.75. This represents a 9.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,785 shares of company stock valued at $1,139,818 over the last ninety days. 22.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DXP Enterprises

A number of hedge funds have recently bought and sold shares of DXPE. Wellington Management Group LLP bought a new stake in shares of DXP Enterprises during the 4th quarter worth approximately $67,901,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of DXP Enterprises by 2,589.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,349 shares of the industrial products company’s stock valued at $12,339,000 after purchasing an additional 143,795 shares in the last quarter. FMR LLC increased its holdings in shares of DXP Enterprises by 21.8% in the 3rd quarter. FMR LLC now owns 776,950 shares of the industrial products company’s stock valued at $41,458,000 after acquiring an additional 139,027 shares during the period. JPMorgan Chase & Co. grew its stake in DXP Enterprises by 193.3% in the third quarter. JPMorgan Chase & Co. now owns 98,044 shares of the industrial products company’s stock valued at $5,232,000 after purchasing an additional 64,611 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in shares of DXP Enterprises during the 3rd quarter worth approximately $3,355,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.

DXP Enterprises Company Profile

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).