DXP Enterprises Inc. (DXPE) Issues Earnings Results
DXP Enterprises Inc. (NASDAQ:DXPE) released its quarterly earnings results on Monday. The company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.10. The firm earned $230 million during the quarter, compared to analyst estimates of $253.35 million. DXP Enterprises had a negative net margin of 5.07% and a positive return on equity of 6.74%. DXP Enterprises’s quarterly revenue was down 24.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share.
DXP Enterprises (NASDAQ:DXPE) opened at 25.15 on Tuesday. The firm’s market capitalization is $364.75 million. DXP Enterprises has a 12 month low of $12.67 and a 12 month high of $33.20. The stock’s 50 day moving average is $25.14 and its 200-day moving average is $21.09.
In related news, SVP John Jay Jeffery sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $28.07, for a total transaction of $28,070.00. Following the transaction, the senior vice president now directly owns 14,221 shares of the company’s stock, valued at $399,183.47. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 11.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in DXPE. Zacks Investment Management acquired a new position in DXP Enterprises during the second quarter worth approximately $152,000. Metropolitan Life Insurance Co. NY raised its position in DXP Enterprises by 8.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 10,334 shares of the company’s stock worth $154,000 after buying an additional 799 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in DXP Enterprises by 6.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 11,751 shares of the company’s stock worth $175,000 after buying an additional 741 shares in the last quarter. Wedbush Securities Inc. acquired a new position in DXP Enterprises during the second quarter worth approximately $182,000. Finally, American International Group Inc. raised its position in DXP Enterprises by 0.3% in the third quarter. American International Group Inc. now owns 9,624 shares of the company’s stock worth $271,000 after buying an additional 29 shares in the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.
DXPE has been the topic of a number of recent analyst reports. Stephens set a $45.00 price target on shares of DXP Enterprises and gave the company a “buy” rating in a research report on Sunday, August 21st. Zacks Investment Research upgraded shares of DXP Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, November 2nd. Finally, William Blair restated a “market perform” rating and issued a $29.00 price target on shares of DXP Enterprises in a research report on Saturday, October 22nd.
About DXP Enterprises
DXP Enterprises, Inc (DXP) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers. The Company operates through three segments: Service Centers, Supply Chain Services and Innovative Pumping Solutions. The Service Centers segment provides MRO products, equipment and services, including technical expertise and logistics capabilities to industrial customers.
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