DXP Enterprises (NASDAQ:DXPE) Sets New 12-Month High – Should You Buy?

DXP Enterprises, Inc. (NASDAQ:DXPE) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $86.22 and last traded at $86.22, with a volume of 61223 shares changing hands. The stock had previously closed at $82.62.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DXPE shares. Stephens upped their target price on shares of DXP Enterprises from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. StockNews.com downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

DXP Enterprises Stock Performance

The company has a market capitalization of $1.35 billion, a PE ratio of 22.16 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 stock has a 50-day simple moving average of $70.99 and a 200 day simple moving average of $57.45.

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

Insiders Place Their Bets

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

Institutional Trading of DXP Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in shares of DXP Enterprises by 0.3% in the third quarter. Principal Financial Group Inc. now owns 68,997 shares of the industrial products company’s stock worth $3,682,000 after acquiring an additional 178 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of DXP Enterprises by 24.8% in the 2nd 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 last quarter. Jane Street Group LLC raised its position in shares of DXP Enterprises by 9.6% in the 3rd quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company’s stock worth $316,000 after buying an additional 517 shares during the period. Quantbot Technologies LP purchased a new position in shares of DXP Enterprises in the 3rd quarter worth about $41,000. Finally, Federated Hermes Inc. increased its position in DXP Enterprises by 8.8% during the 2nd quarter. Federated Hermes Inc. now owns 10,962 shares of the industrial products company’s stock worth $502,000 after purchasing an additional 888 shares in the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

About DXP Enterprises

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).