DXP Enterprises (NASDAQ:DXPE) Raised to Buy at Zacks Investment Research

DXP Enterprises (NASDAQ:DXPE) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The brokerage currently has a $42.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.58% from the company’s previous close.

According to Zacks, “DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada, Mexico and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production (MROP) services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP’s breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. “

A number of other research analysts have also weighed in on DXPE. ValuEngine lowered shares of DXP Enterprises from a “hold” rating to a “sell” rating in a research report on Thursday, November 28th. BidaskClub downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $47.00.

Shares of NASDAQ:DXPE traded up $0.83 during trading on Thursday, reaching $38.68. The stock had a trading volume of 73,900 shares, compared to its average volume of 75,666. The stock has a fifty day simple moving average of $37.26 and a two-hundred day simple moving average of $34.70. The company has a quick ratio of 1.85, a current ratio of 2.71 and a debt-to-equity ratio of 0.83. DXP Enterprises has a 52 week low of $26.95 and a 52 week high of $45.66. The firm has a market capitalization of $678.25 million, a price-to-earnings ratio of 19.94 and a beta of 2.70.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.10. DXP Enterprises had a net margin of 3.51% and a return on equity of 13.87%. The business had revenue of $327.18 million during the quarter, compared to the consensus estimate of $323.44 million. During the same period in the prior year, the firm earned $0.46 EPS. DXP Enterprises’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts forecast that DXP Enterprises will post 2.39 EPS for the current year.

In related news, VP Christopher T. Gregory sold 1,432 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $39.75, for a total transaction of $56,922.00. Following the completion of the transaction, the vice president now directly owns 25,002 shares in the company, valued at approximately $993,829.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 8.40% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new stake in shares of DXP Enterprises during the second quarter valued at approximately $26,000. Nisa Investment Advisors LLC increased its holdings in DXP Enterprises by 192.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 760 shares of the industrial products company’s stock valued at $29,000 after buying an additional 500 shares during the period. Royal Bank of Canada raised its stake in shares of DXP Enterprises by 8.6% in the 2nd quarter. Royal Bank of Canada now owns 5,956 shares of the industrial products company’s stock valued at $226,000 after buying an additional 470 shares in the last quarter. Zebra Capital Management LLC acquired a new position in shares of DXP Enterprises in the 3rd quarter valued at $227,000. Finally, Aperio Group LLC lifted its holdings in shares of DXP Enterprises by 22.0% during the 2nd quarter. Aperio Group LLC now owns 7,694 shares of the industrial products company’s stock worth $292,000 after acquiring an additional 1,387 shares during the period. Institutional investors own 79.54% of the company’s stock.

DXP Enterprises Company Profile

DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates in three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.

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