DXP Enterprises (NASDAQ:DXPE) Sets New 12-Month High – Should You Buy?

DXP Enterprises, Inc. (NASDAQ:DXPE) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $154.48 and last traded at $153.3750, with a volume of 21154 shares changing hands. The stock had previously closed at $150.66.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DXP Enterprises in a report on Monday, December 29th. Wall Street Zen downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, DXP Enterprises presently has an average rating of “Buy” and an average target price of $95.00.

DXP Enterprises Stock Performance

The business has a fifty day simple moving average of $126.30 and a two-hundred day simple moving average of $117.53. The company has a quick ratio of 2.36, a current ratio of 2.77 and a debt-to-equity ratio of 1.27. The company has a market cap of $2.46 billion, a P/E ratio of 29.70 and a beta of 1.00.

Institutional Investors Weigh In On DXP Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of DXPE. Intrua Financial LLC acquired a new stake in DXP Enterprises in the third quarter valued at approximately $1,848,000. Geode Capital Management LLC lifted its stake in shares of DXP Enterprises by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 329,543 shares of the industrial products company’s stock valued at $28,888,000 after purchasing an additional 9,216 shares during the period. Quadrature Capital Ltd acquired a new position in DXP Enterprises in the 2nd quarter worth about $712,000. Envestnet Asset Management Inc. raised its position in DXP Enterprises by 23.7% during the second quarter. Envestnet Asset Management Inc. now owns 21,345 shares of the industrial products company’s stock worth $1,871,000 after acquiring an additional 4,087 shares during the period. Finally, Thoroughbred Financial Services LLC acquired a new stake in DXP Enterprises in the 2nd quarter worth about $531,000. 74.82% of the stock is owned by institutional investors.

About DXP Enterprises

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.