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

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

Separately, Stephens upped their target price 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 Price Performance

NASDAQ:DXPE opened at $78.88 on Friday. The stock has a 50-day simple moving average of $66.14 and a 200 day simple moving average of $55.48. DXP Enterprises has a 52-week low of $30.08 and a 52-week high of $82.33. The company has a market cap of $1.24 billion, a PE ratio of 20.33 and a beta of 1.70. 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 (NASDAQ:DXPE) last issued its quarterly 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 during 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 business earned $0.93 earnings per share. On average, sell-side analysts expect that DXP Enterprises will post 4.07 EPS for the current fiscal year.

Insider Activity

In other DXP Enterprises 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

A number of large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new position in DXP Enterprises during the second quarter worth $29,000. Quantbot Technologies LP acquired a new stake in DXP Enterprises in the 3rd quarter worth about $41,000. Quest Partners LLC raised its position in shares of DXP Enterprises by 24.8% in the second 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in DXP Enterprises by 39.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,113 shares of the industrial products company’s stock worth $189,000 after buying an additional 1,174 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in DXP Enterprises during the 3rd quarter worth $197,000. 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).