DXP Enterprises (NASDAQ:DXPE) Reaches New 12-Month High – Here’s What Happened

DXP Enterprises, Inc. (NASDAQ:DXPE)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $102.18 and last traded at $98.55, with a volume of 487049 shares. The stock had previously closed at $96.17.

Analysts Set New Price Targets

DXPE has been the subject of several analyst reports. StockNews.com cut DXP Enterprises from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Stephens boosted their price target on 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 Price Performance

The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29. The company’s 50-day moving average is $79.30 and its 200-day moving average is $61.03. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 26.46 and a beta of 1.67.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings results on Monday, November 4th. The industrial products company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. The company had revenue of $472.94 million during the quarter. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. During the same period in the previous year, the business earned $0.93 EPS. Equities research analysts predict that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Insider Activity at DXP Enterprises

In other DXP Enterprises news, insider Christopher T. Gregory sold 1,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $73.10, for a total transaction of $73,100.00. Following the completion of the transaction, the insider now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 22.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DXP Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of DXPE. Quantbot Technologies LP bought a new stake in DXP Enterprises in the third quarter worth $41,000. SG Americas Securities LLC purchased a new stake in shares of DXP Enterprises during the third quarter valued at approximately $197,000. Jane Street Group LLC raised its holdings in 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. Federated Hermes Inc. lifted its position in DXP Enterprises by 8.8% in the 2nd quarter. Federated Hermes Inc. now owns 10,962 shares of the industrial products company’s stock valued at $502,000 after acquiring an additional 888 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in DXP Enterprises during the 3rd quarter valued at $1,107,000. Hedge funds and other 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).