FY2017 EPS Estimates for DXP Enterprises, Inc. Increased by Analyst (DXPE)
DXP Enterprises, Inc. (NASDAQ:DXPE) – Equities research analysts at KeyCorp upped their FY2017 earnings per share estimates for DXP Enterprises in a report released on Wednesday. KeyCorp analyst S. Barger now anticipates that the industrial products company will post earnings per share of $0.86 for the year, up from their prior estimate of $0.83. KeyCorp currently has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for DXP Enterprises’ FY2018 earnings at $1.35 EPS.
DXP Enterprises (NASDAQ:DXPE) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. DXP Enterprises had a net margin of 1.58% and a return on equity of 6.28%. The company had revenue of $250.69 million for the quarter, compared to analyst estimates of $246.15 million. During the same period in the prior year, the business posted $0.34 earnings per share. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year.
DXPE has been the topic of a number of other research reports. Zacks Investment Research lowered shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. BidaskClub raised shares of DXP Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Sidoti reissued a “buy” rating and issued a $49.00 price target (up previously from $47.00) on shares of DXP Enterprises in a research report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. DXP Enterprises presently has a consensus rating of “Hold” and an average price target of $39.50.
DXP Enterprises (NASDAQ DXPE) opened at 29.72 on Friday. The firm’s 50-day moving average is $34.70 and its 200 day moving average is $35.76. The firm has a market capitalization of $517.63 million, a price-to-earnings ratio of 31.45 and a beta of 2.67. DXP Enterprises has a 12 month low of $15.12 and a 12 month high of $42.00.
In other news, VP David C. Vinson sold 3,000 shares of DXP Enterprises stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $39.12, for a total value of $117,360.00. Following the transaction, the vice president now owns 6,681 shares of the company’s stock, valued at $261,360.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kent Nee Hung Yee sold 4,000 shares of DXP Enterprises stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $37.63, for a total transaction of $150,520.00. Following the completion of the transaction, the insider now directly owns 40,278 shares in the company, valued at approximately $1,515,661.14. The disclosure for this sale can be found here. Company insiders own 11.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. 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 raised 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 raised its position in shares of DXP Enterprises by 3.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,640 shares of the industrial products company’s stock worth $126,000 after buying an additional 110 shares during the period. Mason Street Advisors LLC raised 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. 73.89% of the stock is currently owned by institutional investors.
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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