DXP Enterprises Inc. (DXPE) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “DXP Enterprises Inc. is a leading supplier of maintenance, repair and operating products, equipment and services to industrial customers. The company offers its customers a single source of supply on an efficient and competitive basis by being a first-tier distributor which purchases its products directly from the manufacturer. The company also provides value-added services such as system design, fabrication, installation, repair and maintenance for its customers. “
Other analysts also recently issued reports about the stock. Stephens set a $45.00 price objective on shares of DXP Enterprises and gave the company a buy rating in a research report on Sunday, August 21st. William Blair restated a market perform rating and set a $29.00 price objective on shares of DXP Enterprises in a research report on Saturday, October 22nd.
Shares of DXP Enterprises (NASDAQ:DXPE) traded up 0.24% during trading on Tuesday, hitting $29.25. 162,712 shares of the stock traded hands. The stock’s market cap is $424.21 million. The firm’s 50-day moving average price is $25.25 and its 200-day moving average price is $21.14. DXP Enterprises has a 12 month low of $12.67 and a 12 month high of $33.20.
DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings data on Monday, November 14th. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.10. The firm had revenue of $230 million for the quarter, compared to the consensus estimate of $253.35 million. DXP Enterprises had a negative net margin of 0.26% and a positive return on equity of 3.65%. The firm’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. Analysts anticipate that DXP Enterprises will post $0.03 EPS for the current year.
In related news, SVP John Jay Jeffery sold 1,000 shares of the firm’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $28.07, for a total transaction of $28,070.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.30% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Credit Suisse AG boosted its position in shares of DXP Enterprises by 315.6% in the third quarter. Credit Suisse AG now owns 47,746 shares of the company’s stock worth $1,346,000 after buying an additional 36,258 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of DXP Enterprises during the third quarter worth approximately $274,000. Two Sigma Advisers LP acquired a new position in shares of DXP Enterprises during the third quarter worth approximately $677,000. Citadel Advisors LLC acquired a new position in shares of DXP Enterprises during the third quarter worth approximately $1,185,000. Finally, Stephens Inc. AR boosted its position in shares of DXP Enterprises by 1.6% in the third quarter. Stephens Inc. AR now owns 63,427 shares of the company’s stock worth $1,788,000 after buying an additional 973 shares during the last quarter. 64.51% of the stock is owned by institutional investors and hedge funds.
DXP Enterprises Company Profile
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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