DXP Enterprises (NASDAQ:DXPE) Sees Unusually-High Trading Volume – Should You Buy?

DXP Enterprises, Inc. (NASDAQ:DXPE) saw an uptick in trading volume on Monday . 108,287 shares were traded during mid-day trading, a decline of 19% from the previous session’s volume of 134,438 shares.The stock last traded at $142.1750 and had previously closed at $143.34.

Wall Street Analysts Forecast Growth

DXPE has been the topic of several recent research reports. Loop Capital set a $154.00 price objective on shares of DXP Enterprises in a research note on Monday, March 2nd. Wall Street Zen raised shares of DXP Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Zacks Research upgraded shares of DXP Enterprises from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of DXP Enterprises in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $154.00.

DXP Enterprises Stock Performance

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 company has a market cap of $2.20 billion, a P/E ratio of 26.30 and a beta of 0.96. The business’s 50 day simple moving average is $140.10 and its 200 day simple moving average is $121.41.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.48. The business had revenue of $527.39 million during 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%. Sell-side analysts predict that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DXP Enterprises news, Director Joseph R. Mannes sold 1,500 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $137.95, for a total value of $206,925.00. Following the completion of the sale, the director owned 13,964 shares in the company, valued at approximately $1,926,333.80. This represents a 9.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 22.70% of the company’s stock.

Institutional Trading of DXP Enterprises

Several institutional investors have recently made changes to their positions in DXPE. HM Payson & Co. bought a new stake in DXP Enterprises during the 3rd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC grew its holdings in DXP Enterprises by 3,507.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock valued at $41,000 after buying an additional 456 shares in the last quarter. Clearstead Advisors LLC grew its holdings in DXP Enterprises by 164.5% during the 4th quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock valued at $54,000 after buying an additional 306 shares in the last quarter. TD Waterhouse Canada Inc. bought a new stake in shares of DXP Enterprises during the third quarter valued at approximately $58,000. Finally, GAMMA Investing LLC raised its position in shares of DXP Enterprises by 35.4% during the fourth quarter. GAMMA Investing LLC now owns 860 shares of the industrial products company’s stock valued at $94,000 after buying an additional 225 shares during the last quarter. Hedge funds and other 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.