DXP Enterprises (DXPE) Rating Increased to Strong-Buy at BidaskClub

DXP Enterprises (NASDAQ:DXPE) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.

Separately, Zacks Investment Research raised shares of DXP Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. DXP Enterprises has a consensus rating of “Buy” and an average target price of $42.00.

DXP Enterprises (NASDAQ:DXPE) traded down $0.52 during mid-day trading on Friday, hitting $34.48. 114,119 shares of the stock were exchanged, compared to its average volume of 86,372. The stock has a market capitalization of $608.71, a PE ratio of 35.18 and a beta of 2.65. The company has a quick ratio of 1.79, a current ratio of 2.51 and a debt-to-equity ratio of 0.91. DXP Enterprises has a twelve month low of $24.86 and a twelve month high of $42.00.

DXP Enterprises (NASDAQ:DXPE) last released its earnings results on Thursday, November 2nd. The industrial products company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The company had revenue of $251.90 million for the quarter, compared to analysts’ expectations of $250.42 million. DXP Enterprises had a return on equity of 4.55% and a net margin of 1.16%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS. equities research analysts expect that DXP Enterprises will post 0.67 earnings per share for the current year.

In related news, CEO David R. Little sold 13,500 shares of the company’s stock in a transaction dated Thursday, December 27th. The shares were sold at an average price of $29.50, for a total transaction of $398,250.00. Following the completion of the sale, the chief executive officer now owns 1,368,214 shares of the company’s stock, valued at approximately $40,362,313. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Todd Hamlin sold 2,500 shares of the company’s stock in a transaction dated Saturday, December 29th. The shares were sold at an average price of $29.68, for a total transaction of $74,200.00. Following the sale, the vice president now directly owns 23,446 shares of the company’s stock, valued at approximately $695,877.28. The disclosure for this sale can be found here. Insiders have sold 34,200 shares of company stock valued at $1,010,218 in the last three months. Corporate insiders own 11.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. purchased a new stake in DXP Enterprises during the 2nd quarter valued at about $152,000. Municipal Employees Retirement System of Michigan grew its stake in DXP Enterprises by 59.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 5,820 shares of the industrial products company’s stock valued at $183,000 after acquiring an additional 2,180 shares in the last quarter. Voya Investment Management LLC purchased a new stake in DXP Enterprises during the 2nd quarter valued at about $243,000. BNP Paribas Arbitrage SA grew its stake in DXP Enterprises by 46.7% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,346 shares of the industrial products company’s stock valued at $263,000 after acquiring an additional 2,658 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in DXP Enterprises during the 3rd quarter valued at about $290,000. 74.25% of the stock is owned by institutional investors.

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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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