DXP Enterprises, Inc. (NASDAQ:DXPE) Given Average Rating of “Buy” by Brokerages
DXP Enterprises, Inc. (NASDAQ:DXPE) has earned a consensus rating of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $41.50.
Several research firms have commented on DXPE. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of DXP Enterprises in a research report on Friday, March 24th. KeyCorp reiterated a “sector weight” rating on shares of DXP Enterprises in a research report on Friday, May 26th. BidaskClub upgraded DXP Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded DXP Enterprises from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Wednesday, April 5th. Finally, Sidoti upgraded DXP Enterprises from a “neutral” rating to a “buy” rating in a research report on Thursday, March 23rd.
DXP Enterprises (DXPE) traded down 0.127% on Monday, hitting $35.405. The company had a trading volume of 12,385 shares. The firm has a market capitalization of $616.65 million, a PE ratio of 37.466 and a beta of 2.67. The firm has a 50-day moving average price of $36.18 and a 200-day moving average price of $36.05. DXP Enterprises has a 12-month low of $14.87 and a 12-month high of $42.00.
DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Monday, May 15th. The industrial products company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.03 by $0.14. The firm had revenue of $238.50 million during the quarter, compared to the consensus estimate of $230.04 million. DXP Enterprises had a return on equity of 7.00% and a net margin of 1.68%. The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period last year, the company earned ($0.35) earnings per share. On average, equities research analysts anticipate that DXP Enterprises will post $0.82 earnings per share for the current fiscal year.
In other DXP Enterprises news, insider Kent Nee Hung Yee sold 4,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 40,278 shares in the company, valued at $1,515,661.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David C. Vinson sold 3,000 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $39.12, for a total value of $117,360.00. Following the completion of the transaction, the vice president now owns 6,681 shares of the company’s stock, valued at $261,360.72. The disclosure for this sale can be found here. 9.60% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new position in shares of DXP Enterprises during the first quarter worth about $102,000. State of Alaska Department of Revenue increased its position in shares of DXP Enterprises by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 3,059 shares of the industrial products company’s stock worth $105,000 after buying an additional 1,349 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of DXP Enterprises by 3.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 3,530 shares of the industrial products company’s stock worth $134,000 after buying an additional 130 shares during the period. Mason Street Advisors LLC increased its position in shares of DXP Enterprises by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,608 shares of the industrial products company’s stock worth $137,000 after buying an additional 236 shares during the period. Finally, Highbridge Capital Management LLC bought a new position in shares of DXP Enterprises during the first quarter worth about $201,000. Institutional investors own 73.88% of the company’s stock.
DXP Enterprises Company Profile
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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