DXP Enterprises (NASDAQ:DXPE) Rating Lowered to Hold at Zacks Research

DXP Enterprises (NASDAQ:DXPE) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts have also recently commented on DXPE. Freedom Capital cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday. Loop Capital set a $154.00 target price on DXP Enterprises in a report on Monday, March 2nd. Finally, Wall Street Zen upgraded DXP Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, DXP Enterprises has an average rating of “Moderate Buy” and an average price target of $154.00.

DXP Enterprises Stock Down 3.6%

DXPE opened at $143.79 on Monday. DXP Enterprises has a 1-year low of $75.58 and a 1-year high of $183.91. The company has a current ratio of 2.98, a quick ratio of 2.56 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 26.88 and a beta of 1.07. The business has a 50 day moving average of $147.92 and a 200-day moving average of $128.25.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.12). DXP Enterprises had a net margin of 4.27% and a return on equity of 18.16%. The business had revenue of $521.66 million during the quarter, compared to the consensus estimate of $531.00 million. As a group, sell-side analysts anticipate that DXP Enterprises will post 6.2 earnings per share for the current year.

Insider Activity at DXP Enterprises

In other news, Director Joseph R. Mannes sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $137.95, for a total transaction of $206,925.00. Following the sale, the director owned 13,964 shares of the company’s stock, valued at $1,926,333.80. This trade represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DXP Enterprises

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its position in shares of 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 period. Vanguard Group Inc. grew its stake in DXP Enterprises by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 964,360 shares of the industrial products company’s stock valued at $105,877,000 after purchasing an additional 18,414 shares in the last quarter. Wasatch Advisors LP grew 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 purchasing an additional 624,638 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in DXP Enterprises by 12,369,100.0% in the 4th 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 during the period. Finally, Geode Capital Management LLC raised its holdings in DXP Enterprises by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 335,991 shares of the industrial products company’s stock valued at $36,895,000 after acquiring an additional 9,767 shares in the last quarter. Institutional investors and hedge funds own 74.82% of the company’s stock.

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.