StockNews.com Upgrades DXP Enterprises (NASDAQ:DXPE) to “Strong-Buy”

DXP Enterprises (NASDAQ:DXPE – Get Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

Separately, Zacks Investment Research lowered shares of DXP Enterprises from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 5th.

DXPE opened at $28.40 on Friday. The stock has a market capitalization of $533.24 million, a PE ratio of 19.45 and a beta of 2.17. DXP Enterprises has a 12-month low of $22.09 and a 12-month high of $36.26. The firm’s fifty day moving average price is $26.64 and its 200 day moving average price is $27.96. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.32 and a quick ratio of 1.69.

DXP Enterprises (NASDAQ:DXPE – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The industrial products company reported $0.65 earnings per share for the quarter. DXP Enterprises had a net margin of 2.42% and a return on equity of 8.02%. The business had revenue of $319.41 million for the quarter. During the same period last year, the business earned $0.02 EPS. On average, equities research analysts forecast that DXP Enterprises will post 0.89 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of DXPE. Captrust Financial Advisors lifted its holdings in shares of DXP Enterprises by 67.8% during the first quarter. Captrust Financial Advisors now owns 1,606 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 649 shares during the period. Metropolitan Life Insurance Co NY increased its position in DXP Enterprises by 6.9% in the third quarter. Metropolitan Life Insurance Co NY now owns 5,549 shares of the industrial products company’s stock worth $164,000 after purchasing an additional 360 shares during the period. State of Tennessee Treasury Department increased its position in DXP Enterprises by 17.9% in the first quarter. State of Tennessee Treasury Department now owns 6,214 shares of the industrial products company’s stock worth $168,000 after purchasing an additional 942 shares during the period. Canada Pension Plan Investment Board acquired a new stake in DXP Enterprises in the fourth quarter worth about $180,000. Finally, Royal Bank of Canada increased its position in DXP Enterprises by 11.6% in the third quarter. Royal Bank of Canada now owns 7,482 shares of the industrial products company’s stock worth $221,000 after purchasing an additional 776 shares during the period. Hedge funds and other institutional investors own 69.44% of the company’s stock.

About DXP Enterprises (Get Rating)

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to the energy and industrial customers primarily 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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