DXP Enterprises (NASDAQ:DXPE) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a hold rating in a report published on Friday morning.

Separately, Stephens raised their price objective on DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th.

DXP Enterprises Price Performance

DXPE opened at $78.88 on Friday. The firm has a market capitalization of $1.24 billion, a PE ratio of 20.33 and a beta of 1.70. 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 business’s 50-day moving average is $66.14 and its two-hundred day moving average is $55.58. DXP Enterprises has a 1 year low of $30.08 and a 1 year high of $82.33.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings data on Monday, November 4th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. The firm had revenue of $472.94 million for the quarter. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. During the same period in the previous year, the firm earned $0.93 EPS. Research analysts anticipate that DXP Enterprises will post 4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DXP Enterprises news, insider Christopher T. Gregory sold 1,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $73.10, for a total transaction of $73,100.00. Following the sale, the insider now owns 29,606 shares in the company, valued at approximately $2,164,198.60. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Innealta Capital LLC acquired a new position in DXP Enterprises in the 2nd quarter worth approximately $29,000. Quantbot Technologies LP purchased a new position in shares of DXP Enterprises during the third quarter worth $41,000. Quest Partners LLC lifted its position in DXP Enterprises by 24.8% during the second quarter. Quest Partners LLC now owns 2,109 shares of the industrial products company’s stock valued at $97,000 after purchasing an additional 419 shares during the period. SG Americas Securities LLC purchased a new stake in DXP Enterprises in the third quarter valued at $197,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in DXP Enterprises by 39.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,113 shares of the industrial products company’s stock valued at $189,000 after purchasing an additional 1,174 shares during the last quarter. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

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).