DXP Enterprises (NASDAQ:DXPE) Reaches New 52-Week High – Here’s Why

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) reached a new 52-week high on Thursday . The company traded as high as $86.22 and last traded at $86.22, with a volume of 61223 shares traded. The stock had previously closed at $82.62.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Stephens increased their price target on shares of DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th.

DXP Enterprises Trading Up 4.1 %

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’s fifty day moving average price is $70.99 and its 200-day moving average price is $57.45. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 22.16 and a beta of 1.70.

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, beating the consensus estimate of $0.95 by $0.48. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. The company had revenue of $472.94 million for the quarter. During the same quarter in the previous year, the business posted $0.93 EPS. On average, equities analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Insider Activity

In related news, insider Christopher T. Gregory sold 1,000 shares of the business’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 transaction of $73,100.00. Following the sale, the insider now owns 29,606 shares of the company’s stock, valued at $2,164,198.60. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of DXP Enterprises

Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in DXP Enterprises during the third quarter worth about $41,000. Quest Partners LLC grew its stake in shares of DXP Enterprises by 24.8% in the 2nd quarter. Quest Partners LLC now owns 2,109 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 419 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised 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 worth $189,000 after purchasing an additional 1,174 shares in the last quarter. SG Americas Securities LLC bought a new stake in DXP Enterprises during the third quarter worth approximately $197,000. Finally, Privium Fund Management UK Ltd bought a new position in shares of DXP Enterprises in the second quarter valued at $209,000. Institutional investors and hedge funds 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).