DXP Enterprises (NASDAQ:DXPE) Upgraded at Zacks Research

Zacks Research upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

DXPE has been the topic of several other research reports. Loop Capital set a $154.00 price target on shares of DXP Enterprises in a report on Monday, March 2nd. Wall Street Zen cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DXP Enterprises in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat.com, DXP Enterprises presently has an average rating of “Buy” and an average price target of $154.00.

DXP Enterprises Stock Performance

Shares of DXP Enterprises stock opened at $130.46 on Thursday. The firm has a market capitalization of $2.02 billion, a P/E ratio of 24.25 and a beta of 0.96. DXP Enterprises has a 12 month low of $67.68 and a 12 month high of $171.70. The business’s fifty day simple moving average is $134.46 and its 200 day simple moving average is $119.73. The company has a current ratio of 3.34, a quick ratio of 2.94 and a debt-to-equity ratio of 1.64.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Wednesday, February 25th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.48. The firm had revenue of $527.39 million for the quarter, compared to analysts’ expectations of $499.00 million. DXP Enterprises had a return on equity of 18.83% and a net margin of 4.40%. As a group, analysts anticipate that DXP Enterprises will post 4.07 EPS for the current year.

Insider Transactions at DXP Enterprises

In related news, Director Joseph R. Mannes sold 1,500 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $137.95, for a total transaction of $206,925.00. Following the sale, the director owned 13,964 shares of the company’s stock, valued at $1,926,333.80. The trade was a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 22.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DXP Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the business. Intrua Financial LLC purchased a new position in DXP Enterprises in the third quarter worth about $1,848,000. Quadrature Capital Ltd purchased a new stake in shares of DXP Enterprises during the second quarter valued at approximately $712,000. Geode Capital Management LLC grew its holdings in shares of DXP Enterprises by 2.9% during the second quarter. Geode Capital Management LLC now owns 329,543 shares of the industrial products company’s stock valued at $28,888,000 after buying an additional 9,216 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of DXP Enterprises by 23.7% during the second quarter. Envestnet Asset Management Inc. now owns 21,345 shares of the industrial products company’s stock valued at $1,871,000 after acquiring an additional 4,087 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in DXP Enterprises in the 2nd quarter worth approximately $427,000. Institutional investors own 74.82% of the company’s stock.

DXP Enterprises Company Profile

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.