DXP Enterprises (NASDAQ:DXPE) Rating Lowered to Hold at StockNews.com

DXP Enterprises (NASDAQ:DXPE) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Separately, Stephens boosted their price target 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.

DXP Enterprises Stock Up 1.3 %

DXPE opened at $79.14 on Thursday. The stock’s 50 day moving average price is $87.47 and its 200 day moving average price is $78.32. 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 has a market cap of $1.24 billion, a P/E ratio of 20.40 and a beta of 1.29. DXP Enterprises has a 12 month low of $43.25 and a 12 month high of $107.06.

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

Insiders Place Their Bets

In other news, CEO David R. Little acquired 5,999 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were bought at an average price of $82.70 per share, with a total value of $496,117.30. Following the purchase, the chief executive officer now owns 1,257,593 shares of the company’s stock, valued at approximately $104,002,941.10. This represents a 0.48 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy P. Halter sold 5,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $89.75, for a total value of $448,750.00. Following the completion of the sale, the director now owns 45,925 shares of the company’s stock, valued at approximately $4,121,768.75. This trade represents a 9.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,785 shares of company stock worth $1,139,818 over the last ninety days. Company insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On DXP Enterprises

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in DXP Enterprises by 9,327.6% during the first quarter. GAMMA Investing LLC now owns 41,953 shares of the industrial products company’s stock worth $3,451,000 after buying an additional 41,508 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of DXP Enterprises during the 4th quarter worth $67,901,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of DXP Enterprises by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,293 shares of the industrial products company’s stock worth $2,751,000 after acquiring an additional 4,321 shares in the last quarter. State of Wyoming grew its holdings in shares of DXP Enterprises by 21.9% in the 4th quarter. State of Wyoming now owns 8,724 shares of the industrial products company’s stock worth $721,000 after acquiring an additional 1,569 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of DXP Enterprises during the fourth quarter worth $311,000. Institutional investors and hedge funds 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).