DXP Enterprises Stock Price Up 10.8% Following Earnings Beat (DXPE)
DXP Enterprises (NASDAQ:DXPE) rose 10.8% during trading on Friday following a better than expected earnings announcement, Analyst Ratings Network reports. The company traded as high as $79.98 and last traded at $78.72, with a volume of 281,595 shares traded. The stock had previously closed at $71.03.
The company reported $1.00 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.90 by $0.10. The company had revenue of $381.60 million for the quarter, compared to the consensus estimate of $370.50 million. During the same quarter last year, the company posted $0.90 earnings per share. DXP Enterprises’s revenue was up 23.9% compared to the same quarter last year.
Separately, analysts at Zacks upgraded shares of DXP Enterprises from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 16th. They now have a $71.60 price target on the stock.
The stock has a 50-day moving average of $72.1 and a 200-day moving average of $89.25. The company has a market cap of $1.149 billion and a price-to-earnings ratio of 18.61.
DXP Enterprises, Inc (NASDAQ:DXPE) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers.
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