DXP Enterprises (NASDAQ:DXPE) Downgraded by StockNews.com to “Hold”

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

Separately, Stephens upped their price target 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.

DXP Enterprises Price Performance

NASDAQ DXPE opened at $78.88 on Friday. 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 firm has a market capitalization of $1.24 billion, a PE ratio of 20.33 and a beta of 1.70. The company’s 50 day simple moving average is $66.14 and its 200 day simple moving average is $55.48. DXP Enterprises has a 12 month low of $30.08 and a 12 month high of $82.33.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Monday, November 4th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.93 EPS. As a group, equities research analysts forecast that DXP Enterprises will post 4.07 EPS for the current fiscal year.

Insider Activity at DXP Enterprises

In other DXP Enterprises news, insider Christopher T. Gregory sold 1,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were 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 of the company’s stock, valued at $2,164,198.60. This represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DXP Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the business. Innealta Capital LLC bought a new position in shares of DXP Enterprises during the second quarter worth $29,000. Quantbot Technologies LP bought a new stake in shares of DXP Enterprises in the third quarter worth about $41,000. Quest Partners LLC lifted its holdings in shares of DXP Enterprises by 24.8% during 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of DXP Enterprises by 39.9% in the 2nd 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 period. Finally, SG Americas Securities LLC bought a new stake in DXP Enterprises during the 3rd quarter worth approximately $197,000. 74.82% of the stock is owned by 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).