Short Interest in DXP Enterprises, Inc. (NASDAQ:DXPE) Drops By 14.7%

DXP Enterprises, Inc. (NASDAQ:DXPE) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 454,200 shares, a decline of 14.7% from the March 15th total of 532,500 shares. Based on an average daily volume of 231,000 shares, the days-to-cover ratio is presently 2.0 days. Approximately 3.6% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of brokerages have recently commented on DXPE. StockNews.com raised shares of DXP Enterprises from a “hold” rating to a “buy” rating in a report on Friday. Stephens upped their target price on shares of DXP Enterprises from $75.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th.

Insider Activity at DXP Enterprises

In other news, Director Timothy P. Halter sold 5,000 shares of DXP Enterprises stock in a transaction dated 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 owns 45,925 shares in the company, valued at approximately $4,121,768.75. This trade represents a 9.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David R. Little acquired 5,999 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was bought at an average price of $82.70 per share, for a total transaction of $496,117.30. Following the completion of the transaction, the chief executive officer now owns 1,257,593 shares of the company’s stock, valued at $104,002,941.10. The trade was a 0.48 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 12,785 shares of company stock worth $1,139,818. 22.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On DXP Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its position in shares of DXP Enterprises by 2,220.0% in the fourth quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 333 shares during the period. Smartleaf Asset Management LLC lifted its position in DXP Enterprises by 3,150.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company’s stock valued at $43,000 after buying an additional 504 shares during the period. Lazard Asset Management LLC bought a new stake in shares of DXP Enterprises during the 4th quarter valued at $159,000. Hsbc Holdings PLC purchased a new stake in shares of DXP Enterprises in the 4th quarter worth about $208,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of DXP Enterprises in the 1st quarter worth about $210,000. 74.82% of the stock is currently owned by institutional investors.

DXP Enterprises Price Performance

Shares of DXP Enterprises stock opened at $80.80 on Monday. The firm has a market capitalization of $1.27 billion, a PE ratio of 20.82 and a beta of 1.29. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29. DXP Enterprises has a 12 month low of $43.25 and a 12 month high of $107.06. The business’s 50-day moving average price is $85.27 and its 200-day moving average price is $79.47.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results 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 business had revenue of $470.91 million during the quarter, compared to the consensus estimate of $447.00 million. Sell-side analysts forecast that DXP Enterprises will post 4.07 EPS for the current fiscal year.

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).