DXP Enterprises Inc (NASDAQ:DXPE) Receives Average Rating of “Hold” from Analysts
DXP Enterprises Inc (NASDAQ:DXPE) has earned a consensus rating of “Hold” from the seven analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $39.50.
DXPE has been the topic of several research analyst reports. Sidoti reaffirmed a “buy” rating and set a $49.00 price objective (up previously from $47.00) on shares of DXP Enterprises in a research note on Wednesday, May 17th. Zacks Investment Research upgraded DXP Enterprises from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Thursday, July 27th. BidaskClub upgraded DXP Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, KeyCorp reiterated a “sector weight” rating on shares of DXP Enterprises in a report on Friday, May 26th.
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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 transaction of $150,520.00. Following the completion of the transaction, the insider now owns 40,278 shares in the company, valued at approximately $1,515,661.14. The transaction was disclosed in a filing with the SEC, 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 stock was 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 approximately $261,360.72. The disclosure for this sale can be found here. 11.30% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial For Lutherans boosted its position in DXP Enterprises by 6.9% in the second quarter. Thrivent Financial For Lutherans now owns 9,330 shares of the industrial products company’s stock worth $322,000 after buying an additional 600 shares during the period. Nationwide Fund Advisors boosted its position in DXP Enterprises by 14.8% in the second quarter. Nationwide Fund Advisors now owns 49,389 shares of the industrial products company’s stock worth $1,704,000 after buying an additional 6,364 shares during the period. Ameriprise Financial Inc. boosted its position in DXP Enterprises by 57.1% in the second quarter. Ameriprise Financial Inc. now owns 136,310 shares of the industrial products company’s stock worth $4,704,000 after buying an additional 49,518 shares during the period. TIAA CREF Investment Management LLC boosted its position in DXP Enterprises by 17.3% in the second quarter. TIAA CREF Investment Management LLC now owns 90,579 shares of the industrial products company’s stock worth $3,125,000 after buying an additional 13,381 shares during the period. Finally, Teachers Advisors LLC boosted its position in DXP Enterprises by 30.8% in the second quarter. Teachers Advisors LLC now owns 36,182 shares of the industrial products company’s stock worth $1,248,000 after buying an additional 8,530 shares during the period. Hedge funds and other institutional investors own 73.77% of the company’s stock.
Shares of DXP Enterprises (DXPE) traded up 0.49% on Friday, hitting $26.62. The stock had a trading volume of 3,770 shares. DXP Enterprises has a one year low of $19.61 and a one year high of $42.00. The firm has a 50 day moving average price of $32.33 and a 200 day moving average price of $35.10. The company has a market capitalization of $463.21 million, a P/E ratio of 30.95 and a beta of 2.63.
DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The business had revenue of $250.69 million for the quarter, compared to the consensus estimate of $246.15 million. DXP Enterprises had a return on equity of 6.47% and a net margin of 1.58%. The firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. On average, equities research analysts predict that DXP Enterprises will post $0.78 earnings per share for the current fiscal year.
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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