DXP Enterprises (DXPE) Cut to Buy at BidaskClub

DXP Enterprises (NASDAQ:DXPE) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Zacks Investment Research downgraded shares of DXP Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $44.00.

DXP Enterprises (NASDAQ DXPE) traded down $1.67 during midday trading on Friday, hitting $32.02. 87,288 shares of the stock were exchanged, compared to its average volume of 101,786. DXP Enterprises has a one year low of $24.86 and a one year high of $42.00. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.79 and a current ratio of 2.51. The firm has a market cap of $585.93, a P/E ratio of 32.67 and a beta of 2.64.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.06). DXP Enterprises had a net margin of 1.83% and a return on equity of 6.87%. The company had revenue of $251.90 million for the quarter, compared to analyst estimates of $250.42 million. During the same period in the prior year, the company earned $0.02 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. analysts expect that DXP Enterprises will post 0.67 EPS for the current fiscal year.

In other news, CEO David R. Little sold 13,500 shares of the business’s stock in a transaction dated Thursday, December 27th. The stock was 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 in the company, valued at approximately $40,362,313. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd Hamlin sold 2,500 shares of the business’s stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $29.68, for a total value of $74,200.00. Following the sale, the vice president now owns 23,446 shares of the company’s stock, valued at approximately $695,877.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,200 shares of company stock valued at $1,010,218. Corporate insiders own 11.30% of the company’s stock.

Several large investors have recently modified their holdings of the company. American Century Companies Inc. grew its holdings in shares of DXP Enterprises by 28.7% during the 4th quarter. American Century Companies Inc. now owns 721,452 shares of the industrial products company’s stock worth $21,333,000 after purchasing an additional 160,811 shares during the period. Frontier Capital Management Co. LLC grew its holdings in shares of DXP Enterprises by 7.6% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,089,679 shares of the industrial products company’s stock worth $32,222,000 after purchasing an additional 77,365 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of DXP Enterprises by 14.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 66,396 shares of the industrial products company’s stock worth $1,964,000 after purchasing an additional 8,483 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of DXP Enterprises by 9.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 49,779 shares of the industrial products company’s stock worth $1,568,000 after purchasing an additional 4,348 shares during the period. Finally, Algert Global LLC grew its holdings in shares of DXP Enterprises by 711.1% during the 3rd quarter. Algert Global LLC now owns 68,292 shares of the industrial products company’s stock worth $2,151,000 after purchasing an additional 59,872 shares during the period. Institutional investors and hedge funds own 74.40% of the company’s stock.

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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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