DXP Enterprises (NASDAQ:DXPE) Upgraded to Buy at StockNews.com

DXP Enterprises (NASDAQ:DXPE) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

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

DXP Enterprises Stock Performance

Shares of DXPE stock opened at $85.16 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29. The firm has a fifty day simple moving average of $82.96 and a two-hundred day simple moving average of $82.60. DXP Enterprises has a 12 month low of $43.25 and a 12 month high of $107.06. The firm has a market capitalization of $1.34 billion, a PE ratio of 21.95 and a beta of 1.26.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.06. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. The company had revenue of $476.57 million for the quarter, compared to analyst estimates of $477.00 million. 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, CEO David R. Little acquired 5,999 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were acquired at an average price of $82.70 per share, with a total value of $496,117.30. Following the completion of the transaction, the chief executive officer now owns 1,257,593 shares in the company, valued at approximately $104,002,941.10. This trade represents a 0.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kent Nee Hung Yee sold 3,457 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $88.43, for a total value of $305,702.51. Following the sale, the chief financial officer now directly owns 68,849 shares of the company’s stock, valued at approximately $6,088,317.07. This represents a 4.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,785 shares of company stock worth $1,139,818 in the last quarter. 22.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DXP Enterprises

Several large investors have recently modified their holdings of DXPE. Global Retirement Partners LLC grew its holdings in DXP Enterprises by 2,220.0% during the fourth quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 333 shares during the period. Smartleaf Asset Management LLC increased its holdings in DXP Enterprises by 3,150.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 504 shares during the last quarter. CWM LLC raised its stake in DXP Enterprises by 32.2% in the 1st quarter. CWM LLC now owns 1,487 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 362 shares during the period. Lazard Asset Management LLC purchased a new stake in DXP Enterprises during the fourth quarter valued at about $159,000. Finally, Hsbc Holdings PLC bought a new position in DXP Enterprises during the fourth quarter worth about $208,000. 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).