KeyCorp Comments on DXP Enterprises Inc.’s Q4 2016 Earnings (DXPE)
DXP Enterprises Inc. (NASDAQ:DXPE) – Analysts at KeyCorp issued their Q4 2016 earnings per share estimates for shares of DXP Enterprises in a note issued to investors on Tuesday. KeyCorp analyst R. Cieslak forecasts that the brokerage will post earnings of ($0.03) per share for the quarter.
Other research analysts have also issued reports about the company. Stephens set a $45.00 target price on DXP Enterprises and gave the company a “buy” rating in a research report on Sunday, August 21st. Zacks Investment Research raised DXP Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, November 2nd. Finally, William Blair reaffirmed a “market perform” rating and set a $29.00 target price on shares of DXP Enterprises in a research report on Saturday, October 22nd.
DXP Enterprises (NASDAQ:DXPE) opened at 29.25 on Thursday. The stock’s 50 day moving average price is $25.49 and its 200-day moving average price is $21.31. DXP Enterprises has a 52-week low of $12.67 and a 52-week high of $33.20. The stock’s market capitalization is $424.21 million.
DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings data on Monday, November 14th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.10. DXP Enterprises had a negative net margin of 0.26% and a positive return on equity of 3.61%. The company had revenue of $230 million for the quarter, compared to analysts’ expectations of $253.35 million. During the same period in the previous year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was down 24.1% on a year-over-year basis.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zacks Investment Management purchased a new position in shares of DXP Enterprises during the second quarter worth $152,000. Metropolitan Life Insurance Co. NY raised its position in shares of 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 shares of 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. purchased a new position in shares of DXP Enterprises during the second quarter worth $182,000. Finally, American International Group Inc. raised its position in shares of 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.
In other news, SVP John Jay Jeffery sold 1,000 shares of the stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $28.07, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.30% of the stock is owned by insiders.
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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