DXP Enterprises (NASDAQ:DXPE) Stock Rating Lowered by StockNews.com

DXP Enterprises (NASDAQ:DXPE) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, Stephens upped their price objective on shares of DXP Enterprises from $75.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, March 10th.

DXP Enterprises Price Performance

Shares of DXPE stock opened at $88.98 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 company has a market capitalization of $1.40 billion, a PE ratio of 22.93 and a beta of 1.29. The firm’s 50-day moving average is $82.77 and its two-hundred day moving average is $81.04. 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 data on Thursday, March 6th. The industrial products company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.49. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The firm had revenue of $470.91 million for the quarter, compared to analysts’ expectations of $447.00 million. Analysts predict that DXP Enterprises will post 4.07 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Timothy P. Halter sold 5,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $89.75, for a total transaction of $448,750.00. Following the sale, the director now owns 45,925 shares of the company’s stock, valued at approximately $4,121,768.75. This represents a 9.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Paz Maestas sold 4,328 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief marketing officer now directly owns 613,039 shares of the company’s stock, valued at approximately $54,584,992.56. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,785 shares of company stock valued at $1,139,818. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of DXP Enterprises

Large investors have recently modified their holdings of the stock. Barclays PLC increased its holdings in DXP Enterprises by 355.4% during the 3rd quarter. Barclays PLC now owns 23,723 shares of the industrial products company’s stock worth $1,267,000 after purchasing an additional 18,514 shares during the period. JPMorgan Chase & Co. raised its holdings 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 acquiring an additional 64,611 shares in the last quarter. Prudential Financial Inc. raised its holdings in DXP Enterprises by 96.2% in the fourth quarter. Prudential Financial Inc. now owns 26,105 shares of the industrial products company’s stock valued at $2,157,000 after acquiring an additional 12,800 shares in the last quarter. Raymond James Financial Inc. acquired a new position in DXP Enterprises during the 4th quarter worth approximately $1,037,000. Finally, Intech Investment Management LLC acquired a new position in DXP Enterprises during the 4th quarter worth approximately $447,000. 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).