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

DXP Enterprises (NASDAQ:DXPE) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

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

DXP Enterprises Stock Performance

Shares of NASDAQ DXPE remained flat at $78.88 during midday trading on Friday. 1,545,059 shares of the stock were exchanged, compared to its average volume of 117,827. The company has a market cap of $1.24 billion, a P/E ratio of 20.33 and a beta of 1.70. DXP Enterprises has a 1 year low of $30.08 and a 1 year high of $82.33. The business’s 50-day simple moving average is $66.14 and its 200-day simple moving average is $55.48. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results 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. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The business had revenue of $472.94 million during the quarter. During the same quarter in the previous year, the company posted $0.93 EPS. As a group, analysts forecast that DXP Enterprises will post 4.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Christopher T. Gregory sold 1,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $73.10, for a total value of $73,100.00. Following the completion of the transaction, the insider now directly owns 29,606 shares of the company’s stock, valued at approximately $2,164,198.60. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

Several large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in shares of DXP Enterprises by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 68,997 shares of the industrial products company’s stock valued at $3,682,000 after purchasing an additional 178 shares during the last quarter. 272 Capital LP bought a new position in DXP Enterprises during the third quarter valued at $1,380,000. Barclays PLC raised its stake in shares of DXP Enterprises by 355.4% in the third quarter. Barclays PLC now owns 23,723 shares of the industrial products company’s stock valued at $1,267,000 after acquiring an additional 18,514 shares during the period. Jane Street Group LLC lifted its holdings 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 acquiring an additional 517 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of DXP Enterprises during the 3rd quarter worth about $3,355,000. 74.82% of the stock is owned by institutional investors.

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).