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

DXP Enterprises (NASDAQ:DXPE) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, Stephens upped their target price on DXP Enterprises from $75.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th.

DXP Enterprises Trading Down 1.6 %

Shares of DXPE stock traded down $1.46 during trading hours on Tuesday, hitting $88.40. 104,225 shares of the company were exchanged, compared to its average volume of 153,475. The company has a 50 day simple moving average of $94.21 and a two-hundred day simple moving average of $75.70. The firm has a market cap of $1.39 billion, a P/E ratio of 22.78 and a beta of 1.66. 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 has a fifty-two week low of $43.25 and a fifty-two week high of $107.06.

DXP Enterprises (NASDAQ:DXPE) last issued its earnings results on Thursday, March 6th. The industrial products company reported $1.38 EPS for the quarter, beating the consensus estimate of $0.89 by $0.49. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The company had revenue of $470.91 million during the quarter, compared to the consensus estimate of $447.00 million. Equities analysts anticipate that DXP Enterprises will post 4.07 EPS for the current year.

Insider Activity

In related news, CMO Paz Maestas sold 4,328 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $89.04, for a total value of $385,365.12. Following the transaction, the chief marketing officer now owns 613,039 shares of the company’s stock, valued at approximately $54,584,992.56. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of DXP Enterprises

Several institutional investors and hedge funds have recently modified their holdings of DXPE. Wellington Management Group LLP purchased a new position in shares of DXP Enterprises during the fourth quarter valued at approximately $67,901,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in DXP Enterprises by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,293 shares of the industrial products company’s stock worth $2,751,000 after acquiring an additional 4,321 shares during the last quarter. State of Wyoming boosted its holdings in DXP Enterprises by 21.9% during the 4th quarter. State of Wyoming now owns 8,724 shares of the industrial products company’s stock worth $721,000 after acquiring an additional 1,569 shares during the last quarter. ProShare Advisors LLC bought a new stake in shares of DXP Enterprises in the 4th quarter worth $311,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of DXP Enterprises by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company’s stock valued at $59,513,000 after purchasing an additional 38,900 shares during the last quarter. 74.82% of the stock is owned by hedge funds and other 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).