DXP Enterprises (NASDAQ:DXPE) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of DXP Enterprises (NASDAQ:DXPE) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, October 26th. Stephens lifted their price target on shares of DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.00.

DXP Enterprises Price Performance

DXPE stock opened at $174.28 on Friday. The business has a 50 day moving average price of $181.89 and a 200 day moving average price of $161.33. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 29.16 and a beta of 1.03. DXP Enterprises has a fifty-two week low of $84.04 and a fifty-two week high of $208.00. The company has a quick ratio of 2.58, a current ratio of 2.99 and a debt-to-equity ratio of 1.51.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.17. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%. The firm had revenue of $576.46 million during the quarter, compared to the consensus estimate of $543.00 million.

Institutional Investors Weigh In On DXP Enterprises

Several large investors have recently modified their holdings of DXPE. Oregon Public Employees Retirement Fund lifted its position in DXP Enterprises by 3.5% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 2,921 shares of the industrial products company’s stock worth $529,000 after acquiring an additional 100 shares during the period. Sterling Capital Management LLC increased its holdings in shares of DXP Enterprises by 834.8% in the third quarter. Sterling Capital Management LLC now owns 430 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 384 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of DXP Enterprises by 99.4% during the third quarter. Nisa Investment Advisors LLC now owns 351 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 175 shares during the period. Net Worth Advisory Group acquired a new stake in shares of DXP Enterprises during the third quarter worth $213,000. Finally, SummerHaven Investment Management LLC lifted its holdings in shares of DXP Enterprises by 110.6% during the third quarter. SummerHaven Investment Management LLC now owns 17,271 shares of the industrial products company’s stock worth $3,130,000 after purchasing an additional 9,070 shares during the period. 74.82% of the stock is owned by institutional investors and hedge funds.

About DXP Enterprises

DXP Enterprises, Inc is an industrial distribution and services company headquartered in Houston, Texas. The company supplies maintenance, repair and operating products used by industrial, commercial and government customers, with an emphasis on rotating equipment, fluid handling and related industrial applications.

Its product offerings include pumps, valves, bearings, power-transmission components, hose and rubber products, industrial supplies, safety equipment and other maintenance products.