DXP Enterprises (NASDAQ:DXPE) Stock Rating Upgraded by Wall Street Zen

DXP Enterprises (NASDAQ:DXPE) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other equities research analysts also recently weighed in on DXPE. Zacks Research upgraded shares of DXP Enterprises from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of DXP Enterprises in a research 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 investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $154.00.

DXP Enterprises Stock Performance

DXPE stock opened at $136.64 on Friday. DXP Enterprises has a 52 week low of $67.68 and a 52 week high of $171.70. The company has a market capitalization of $2.12 billion, a PE ratio of 25.40 and a beta of 0.96. The company’s 50-day simple moving average is $138.72 and its 200 day simple moving average is $120.56. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.94 and a current ratio of 3.34.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.48. The business had revenue of $527.39 million during the quarter, compared to analysts’ expectations of $499.00 million. DXP Enterprises had a net margin of 4.40% and a return on equity of 18.83%. As a group, sell-side analysts anticipate that DXP Enterprises will post 4.07 earnings per share for the current year.

Insider Buying and Selling

In other DXP Enterprises news, Director Joseph R. Mannes sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $137.95, for a total value of $206,925.00. Following the transaction, the director directly owned 13,964 shares of the company’s stock, valued at $1,926,333.80. This trade represents a 9.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.40% of the stock is currently owned by corporate insiders.

Institutional Trading of DXP Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP increased its stake in DXP Enterprises by 480.2% in the fourth quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company’s stock valued at $82,859,000 after acquiring an additional 624,638 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in DXP Enterprises by 12,369,100.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company’s stock valued at $40,785,000 after purchasing an additional 371,073 shares in the last quarter. Wellington Management Group LLP lifted its stake in DXP Enterprises by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company’s stock worth $133,867,000 after purchasing an additional 137,577 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of DXP Enterprises by 661.5% in the 1st quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock valued at $10,608,000 after purchasing an additional 112,021 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of DXP Enterprises by 24.5% in the 2nd quarter. American Century Companies Inc. now owns 562,210 shares of the industrial products company’s stock valued at $49,278,000 after purchasing an additional 110,482 shares in the last quarter. Institutional investors 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.