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

DXP Enterprises (NASDAQ:DXPE) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Separately, Stephens boosted their target price on DXP Enterprises from $75.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, March 10th.

DXP Enterprises Stock Performance

Shares of DXPE stock opened at $85.71 on Tuesday. The stock has a market cap of $1.35 billion, a PE ratio of 22.09 and a beta of 1.66. The stock has a 50-day moving average of $93.95 and a 200-day moving average of $75.77. 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 has a one year low of $43.25 and a one year high of $107.06.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Thursday, March 6th. The industrial products company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.49. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. The company had revenue of $470.91 million for the quarter, compared to analyst estimates of $447.00 million. As a group, sell-side analysts expect that DXP Enterprises will post 4.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Timothy P. Halter sold 5,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $89.75, for a total value of $448,750.00. Following the sale, the director now directly owns 45,925 shares in the company, valued at $4,121,768.75. The trade was a 9.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Paz Maestas sold 4,328 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $89.04, for a total value of $385,365.12. Following the transaction, the chief marketing officer now owns 613,039 shares of the company’s stock, valued at approximately $54,584,992.56. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On DXP Enterprises

A number of large investors have recently bought and sold shares of DXPE. Global Retirement Partners LLC raised its holdings in shares of DXP Enterprises by 2,220.0% in the fourth quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 333 shares during the last quarter. Quantbot Technologies LP bought a new stake in DXP Enterprises during the 3rd quarter worth about $41,000. Smartleaf Asset Management LLC boosted its stake in shares of DXP Enterprises by 3,150.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company’s stock worth $43,000 after buying an additional 504 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of DXP Enterprises in the 4th quarter valued at about $159,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of DXP Enterprises in the fourth quarter valued at about $208,000. Institutional investors and hedge funds 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).