DXP Enterprises (NASDAQ:DXPE) Stock Rating Lowered by StockNews.com

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

Separately, Stephens boosted their price target on shares of 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

DXPE opened at $78.88 on Friday. The firm has a fifty day moving average price of $66.14 and a 200 day moving average price of $55.58. DXP Enterprises has a 1 year low of $30.08 and a 1 year high of $82.33. The stock has a market cap of $1.24 billion, a P/E ratio of 20.33 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.

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

Insider Buying and Selling

In related news, insider Christopher T. Gregory sold 1,000 shares of the stock in a transaction 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 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 represents a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DXP Enterprises

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its position in DXP Enterprises by 125.3% during the second quarter. Renaissance Technologies LLC now owns 111,300 shares of the industrial products company’s stock worth $5,102,000 after acquiring an additional 61,900 shares during the last quarter. Pacer Advisors Inc. lifted its stake in DXP Enterprises by 4.1% in the 3rd quarter. Pacer Advisors Inc. now owns 744,587 shares of the industrial products company’s stock worth $39,731,000 after purchasing an additional 29,131 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of DXP Enterprises by 39.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 52,858 shares of the industrial products company’s stock worth $2,821,000 after purchasing an additional 14,886 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of DXP Enterprises in the third quarter valued at approximately $1,107,000. Finally, FMR LLC increased its holdings in shares of DXP Enterprises by 21.8% in the third quarter. FMR LLC now owns 776,950 shares of the industrial products company’s stock valued at $41,458,000 after purchasing an additional 139,027 shares during the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

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).