DXP Enterprises (NASDAQ:DXPE) Reaches New 52-Week High – Still a Buy?

DXP Enterprises, Inc. (NASDAQ:DXPE)’s share price reached a new 52-week high on Monday . The company traded as high as $73.75 and last traded at $73.45, with a volume of 49333 shares. The stock had previously closed at $71.33.

Analyst Upgrades and Downgrades

Separately, Stephens lifted their price target 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 Stock Up 2.2 %

The company has a market cap of $1.14 billion, a PE ratio of 18.89 and a beta of 1.60. The company has a fifty day moving average of $56.51 and a two-hundred day moving average of $51.87. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Monday, November 4th. The industrial products company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. The business had revenue of $472.94 million for the quarter. During the same period in the prior year, the company posted $0.93 EPS. As a group, analysts anticipate that DXP Enterprises, Inc. will post 3.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Paz Maestas sold 2,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $53.21, for a total transaction of $106,420.00. Following the completion of the sale, the chief marketing officer now directly owns 617,367 shares of the company’s stock, valued at approximately $32,850,098.07. The trade was a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of DXP Enterprises in the 2nd quarter worth $29,000. Quantbot Technologies LP bought a new stake in shares of DXP Enterprises in the third quarter valued at about $41,000. Quest Partners LLC lifted its stake in DXP Enterprises by 24.8% in the second quarter. Quest Partners LLC now owns 2,109 shares of the industrial products company’s stock worth $97,000 after acquiring an additional 419 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in DXP Enterprises by 39.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,113 shares of the industrial products company’s stock worth $189,000 after acquiring an additional 1,174 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in DXP Enterprises during the 3rd quarter valued at about $197,000. 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).