DXP Enterprises (NASDAQ:DXPE) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a hold rating to a strong-buy rating in a research report report published on Thursday,Zacks.com reports.

A number of other analysts have also commented on the company. Wall Street Zen lowered DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of DXP Enterprises in a report on Monday, December 29th. Finally, Loop Capital set a $154.00 price objective on DXP Enterprises in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $154.00.

DXP Enterprises Trading Down 0.4%

NASDAQ:DXPE opened at $130.46 on Thursday. DXP Enterprises has a 12 month low of $67.68 and a 12 month high of $171.70. The company has a current ratio of 3.34, a quick ratio of 2.94 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 24.25 and a beta of 0.96. The firm has a fifty day simple moving average of $134.46 and a two-hundred day simple moving average of $119.77.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.48. The firm had revenue of $527.39 million for the quarter, compared to analyst estimates of $499.00 million. DXP Enterprises had a net margin of 4.40% and a return on equity of 18.83%. Analysts expect that DXP Enterprises will post 4.07 EPS for the current fiscal year.

Insider Buying and Selling at DXP Enterprises

In other news, Director Joseph R. Mannes sold 1,500 shares of DXP Enterprises stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $137.95, for a total transaction of $206,925.00. Following the completion of the transaction, the director directly owned 13,964 shares in the company, valued at $1,926,333.80. This trade represents a 9.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 22.70% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in DXPE. ProShare Advisors LLC lifted its position in DXP Enterprises by 3.4% in the 4th quarter. ProShare Advisors LLC now owns 2,527 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 82 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in DXP Enterprises by 0.9% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 10,857 shares of the industrial products company’s stock valued at $950,000 after purchasing an additional 100 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in DXP Enterprises by 2.4% during the 3rd quarter. Apollon Wealth Management LLC now owns 5,119 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 119 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of DXP Enterprises by 1.2% in the third quarter. Private Advisor Group LLC now owns 10,247 shares of the industrial products company’s stock worth $1,220,000 after purchasing an additional 122 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of DXP Enterprises by 3.5% in the third quarter. Amalgamated Bank now owns 3,749 shares of the industrial products company’s stock worth $446,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 74.82% of the company’s stock.

DXP Enterprises Company Profile

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.