DXP Enterprises (NASDAQ:DXPE) Raised to Buy at Wall Street Zen

DXP Enterprises (NASDAQ:DXPE) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other equities research analysts also recently commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of DXP Enterprises in a research report on Monday, December 29th. Loop Capital set a $154.00 price target on DXP Enterprises in a report on Monday, March 2nd. Finally, Zacks Research raised DXP Enterprises from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, DXP Enterprises has an average rating of “Buy” and an average price target of $154.00.

DXP Enterprises Stock Down 0.3%

Shares of NASDAQ DXPE opened at $136.64 on Friday. The stock has a market cap of $2.12 billion, a PE ratio of 25.40 and a beta of 0.96. 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 has a 12-month low of $67.68 and a 12-month high of $171.70. The company has a 50-day moving average of $138.72 and a 200 day moving average of $120.51.

DXP Enterprises (NASDAQ:DXPE) last released its earnings results on Wednesday, February 25th. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.48. The business had revenue of $527.39 million for the quarter, compared to analyst estimates of $499.00 million. DXP Enterprises had a net margin of 4.40% and a return on equity of 18.83%. As a group, sell-side analysts predict that DXP Enterprises will post 4.07 EPS for the current fiscal year.

Insider Transactions at DXP Enterprises

In other DXP Enterprises news, Director Joseph R. Mannes sold 1,500 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $137.95, for a total transaction of $206,925.00. Following the transaction, the director directly owned 13,964 shares in the company, valued at $1,926,333.80. This represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DXP Enterprises

Institutional investors have recently modified their holdings of the company. HM Payson & Co. acquired a new position in DXP Enterprises during the 3rd quarter worth about $27,000. EverSource Wealth Advisors LLC grew its position in DXP Enterprises by 3,507.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 456 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new stake in DXP Enterprises during the third quarter worth about $58,000. Clearstead Advisors LLC increased its stake in DXP Enterprises by 164.5% during the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 306 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of DXP Enterprises by 35.4% during the fourth quarter. GAMMA Investing LLC now owns 860 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 225 shares in the last quarter. 74.82% of the stock is owned by institutional investors and hedge funds.

About DXP Enterprises

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.