DXP Enterprises (NASDAQ:DXPE) Reaches New 1-Year High – Here’s What Happened

DXP Enterprises, Inc. (NASDAQ:DXPE) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $82.50 and last traded at $82.38, with a volume of 24744 shares trading hands. The stock had previously closed at $81.69.

Wall Street Analysts Forecast Growth

Several analysts have commented on DXPE shares. StockNews.com lowered shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Stephens raised their target price on shares of DXP Enterprises from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th.

DXP Enterprises Stock Performance

The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 21.21 and a beta of 1.70. 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 fifty day simple moving average of $69.01 and a two-hundred day simple moving average of $56.67.

DXP Enterprises (NASDAQ:DXPE) last released its earnings results on Monday, November 4th. The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. The company had revenue of $472.94 million for the quarter. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. During the same period in the prior year, the firm posted $0.93 EPS. On average, analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Insider Buying and Selling

In related news, insider Christopher T. Gregory sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $73.10, for a total value of $73,100.00. Following the sale, the insider now owns 29,606 shares in the company, valued at $2,164,198.60. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DXP Enterprises

Institutional investors have recently bought and sold shares of the business. Innealta Capital LLC acquired a new stake in shares of DXP Enterprises in the second quarter worth $29,000. Quantbot Technologies LP acquired a new stake in DXP Enterprises during the 3rd quarter worth about $41,000. Quest Partners LLC raised its stake 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 buying an additional 419 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 buying an additional 1,174 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of DXP Enterprises in the third quarter worth about $197,000. 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).