DXP Enterprises (NASDAQ:DXPE) Downgraded to Hold Rating by Wall Street Zen

DXP Enterprises (NASDAQ:DXPE) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of DXP Enterprises in a research note on Friday, May 22nd. Loop Capital set a $154.00 price objective on shares of DXP Enterprises in a research note on Monday, March 2nd. Freedom Capital cut shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Zacks Research cut shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $154.00.

DXP Enterprises Stock Down 2.4%

Shares of NASDAQ DXPE opened at $157.40 on Friday. The company has a quick ratio of 2.56, a current ratio of 2.98 and a debt-to-equity ratio of 1.60. DXP Enterprises has a 52 week low of $75.58 and a 52 week high of $183.91. The firm has a 50-day moving average price of $152.40 and a 200 day moving average price of $132.83. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 29.42 and a beta of 0.99.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.12). DXP Enterprises had a net margin of 4.27% and a return on equity of 18.16%. The company had revenue of $521.66 million during the quarter, compared to analyst estimates of $531.00 million. Equities research analysts anticipate that DXP Enterprises will post 6.2 EPS for the current fiscal year.

Insider Activity

In other DXP Enterprises news, Director Timothy P. Halter sold 6,842 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $141.59, for a total transaction of $968,758.78. Following the completion of the transaction, the director directly owned 30,000 shares in the company, valued at approximately $4,247,700. This trade represents a 18.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph R. Mannes sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $137.95, for a total transaction of $206,925.00. Following the transaction, the director owned 13,964 shares of the company’s stock, valued at $1,926,333.80. This trade represents a 9.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 22.70% of the company’s stock.

Hedge Funds Weigh In On DXP Enterprises

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in DXP Enterprises by 3,507.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 456 shares in the last quarter. KBC Group NV purchased a new position in DXP Enterprises during the 1st quarter valued at about $51,000. Clearstead Advisors LLC grew its holdings in shares of DXP Enterprises by 164.5% during the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock worth $54,000 after buying an additional 306 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of DXP Enterprises by 35.4% during the fourth quarter. GAMMA Investing LLC now owns 860 shares of the industrial products company’s stock worth $94,000 after buying an additional 225 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of DXP Enterprises during the fourth quarter worth about $152,000. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

DXP Enterprises Company Profile

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.