DXP Enterprises (NASDAQ:DXPE) Hits New 12-Month High – What’s Next?

DXP Enterprises, Inc. (NASDAQ:DXPE)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $87.30 and last traded at $87.30, with a volume of 2332 shares. The stock had previously closed at $84.75.

Wall Street Analysts Forecast Growth

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

DXP Enterprises Stock Performance

The firm has a 50 day moving average of $75.97 and a 200-day moving average of $59.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22. The stock has a market capitalization of $1.43 billion, a PE ratio of 23.45 and a beta of 1.67.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results 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 return on equity of 18.74% and a net margin of 3.75%. The company had revenue of $472.94 million during the quarter. During the same period last year, the business earned $0.93 earnings per share. Research analysts forecast that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Insider Transactions at DXP Enterprises

In other news, insider Christopher T. Gregory sold 1,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $73.10, for a total transaction of $73,100.00. Following the transaction, the insider now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 22.40% of the company’s stock.

Institutional Trading of DXP Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new stake in shares of DXP Enterprises during the 3rd quarter worth approximately $41,000. Quest Partners LLC grew its holdings in shares of DXP Enterprises by 24.8% during 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 in the last quarter. SG Americas Securities LLC acquired a new stake in shares of DXP Enterprises during the 3rd quarter worth approximately $197,000. Jane Street Group LLC grew its holdings in shares of DXP Enterprises by 9.6% during the 3rd quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 517 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of DXP Enterprises during the 2nd quarter worth approximately $437,000. 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).