DXP Enterprises (NASDAQ:DXPE) Stock Dropped to “Hold” by Wall Street Zen

Wall Street Zen downgraded shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.

Several other research firms have also recently issued reports on DXPE. Stephens upped their price objective on DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings lowered DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

DXP Enterprises Stock Performance

Shares of DXPE stock opened at $140.68 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.56 and a debt-to-equity ratio of 1.43. The firm has a fifty day moving average price of $178.94 and a 200 day moving average price of $161.97. The company has a market cap of $2.18 billion, a P/E ratio of 23.41 and a beta of 1.04. DXP Enterprises has a 12 month low of $84.04 and a 12 month high of $208.00.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Thursday, November 5th. The industrial products company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.15). DXP Enterprises had a net margin of 4.45% and a return on equity of 18.67%. The business had revenue of $587.18 million during the quarter, compared to analysts’ expectations of $584.50 million.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DXPE. Bank of New York Mellon Corp acquired a new stake in shares of DXP Enterprises in the 2nd quarter valued at about $13,566,000. Congress Asset Management Co. grew its stake in DXP Enterprises by 21.7% during the 3rd quarter. Congress Asset Management Co. now owns 64,015 shares of the industrial products company’s stock worth $11,600,000 after buying an additional 11,423 shares during the last quarter. First Trust Advisors LP grew its stake in DXP Enterprises by 1.1% during the 1st quarter. First Trust Advisors LP now owns 68,634 shares of the industrial products company’s stock worth $9,590,000 after buying an additional 756 shares during the last quarter. Globeflex Capital L P acquired a new position in DXP Enterprises during the second quarter worth approximately $6,507,000. Finally, SummerHaven Investment Management LLC increased its position in 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 buying an additional 9,070 shares during the period. Institutional investors and hedge funds own 74.82% of the company’s stock.

DXP Enterprises News Summary

Here are the key news stories impacting DXP Enterprises this week:

• Positive Sentiment: Revenue was $587.2 million, modestly above analysts’ $584.5 million estimate, and coverage highlighted double-digit sales growth. Revenue results
• Neutral Sentiment: Some coverage raised the possibility that DXPE may be undervalued, but that view is tempered by earnings and fourth-quarter outlook concerns. Valuation and outlook article
• Negative Sentiment: Adjusted earnings were $1.64 per share, missing the $1.79 consensus estimate. Reports pointed to margin pressure, meaning sales growth did not translate into earnings as strongly as investors expected. Q3 margin analysis
• Negative Sentiment: The earnings miss has also raised questions about the fourth-quarter outlook, contributing to pressure on the shares after results. Stock reaction coverage

About DXP Enterprises

DXP Enterprises, Inc is a distributor of industrial products and provider of related services. It supplies maintenance, repair and operating products, including bearings, power-transmission components, safety equipment and other industrial supplies to customers in a range of industries.

The company also provides pump and rotating-equipment services, such as pump repair and packaged pumping systems, as well as supply-chain services that support customers’ procurement and inventory-management needs.