DXP Enterprises, Inc. (NASDAQ:DXPE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “DXP Enterprises Inc. is a leading supplier of maintenance, repair and operating products, equipment and services to industrial customers. The company offers its customers a single source of supply on an efficient and competitive basis by being a first-tier distributor which purchases its products directly from the manufacturer. The company also provides value-added services such as system design, fabrication, installation, repair and maintenance for its customers. “

Several other research analysts have also weighed in on DXPE. BidaskClub raised DXP Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. KeyCorp reaffirmed a “sector weight” rating on shares of DXP Enterprises in a research report on Friday, May 26th. Sidoti reaffirmed a “buy” rating and issued a $49.00 target price (up from $47.00) on shares of DXP Enterprises in a research report on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of DXP Enterprises in a research report on Friday, March 24th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $41.50.

Shares of DXP Enterprises (DXPE) traded down 0.691% during mid-day trading on Monday, reaching $35.205. The company’s stock had a trading volume of 80,252 shares. The firm’s 50 day moving average is $36.18 and its 200-day moving average is $36.05. DXP Enterprises has a 52-week low of $14.87 and a 52-week high of $42.00. The company has a market capitalization of $613.17 million, a PE ratio of 37.254 and a beta of 2.67.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Monday, May 15th. The industrial products company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.14. The firm had revenue of $238.50 million for the quarter, compared to analyst estimates of $230.04 million. DXP Enterprises had a return on equity of 7.00% and a net margin of 1.68%. DXP Enterprises’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.35) earnings per share. Analysts forecast that DXP Enterprises will post $0.82 EPS for the current year.

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In other DXP Enterprises news, VP David C. Vinson sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $39.12, for a total value of $117,360.00. Following the completion of the sale, the vice president now owns 6,681 shares in the company, valued at approximately $261,360.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kent Nee Hung Yee sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $37.63, for a total value of $150,520.00. Following the completion of the sale, the insider now owns 40,278 shares of the company’s stock, valued at approximately $1,515,661.14. The disclosure for this sale can be found here. 9.60% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Comerica Bank boosted its position in shares of DXP Enterprises by 27.3% in the fourth quarter. Comerica Bank now owns 16,416 shares of the industrial products company’s stock worth $623,000 after buying an additional 3,518 shares during the last quarter. State Street Corp boosted its position in shares of DXP Enterprises by 28.9% in the fourth quarter. State Street Corp now owns 301,101 shares of the industrial products company’s stock worth $10,457,000 after buying an additional 67,438 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of DXP Enterprises by 26.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 616,128 shares of the industrial products company’s stock worth $21,404,000 after buying an additional 127,241 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of DXP Enterprises by 11.2% in the fourth quarter. New York State Teachers Retirement System now owns 5,934 shares of the industrial products company’s stock worth $206,000 after buying an additional 600 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of DXP Enterprises by 27.9% in the fourth quarter. Public Sector Pension Investment Board now owns 10,997 shares of the industrial products company’s stock worth $382,000 after buying an additional 2,400 shares during the last quarter. 73.88% of the stock is owned by institutional investors and hedge funds.

About DXP Enterprises

DXP Enterprises, Inc (DXP) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers. The Company operates through three segments: Service Centers, Supply Chain Services and Innovative Pumping Solutions. The Service Centers segment provides MRO products, equipment and services, including technical expertise and logistics capabilities to industrial customers.

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