DXP Enterprises (NASDAQ:DXPE) Share Price Passes Above 200 Day Moving Average – What’s Next?

DXP Enterprises, Inc. (NASDAQ:DXPE) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $137.96 and traded as high as $175.12. DXP Enterprises shares last traded at $173.69, with a volume of 267,056 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DXPE shares. Loop Capital set a $154.00 price target on DXP Enterprises in a report on Monday, March 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of DXP Enterprises in a research note on Friday, May 22nd. Wall Street Zen downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Zacks Research lowered shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Freedom Capital cut shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $154.00.

DXP Enterprises Trading Up 5.3%

The business has a 50 day moving average of $156.94 and a two-hundred day moving average of $137.96. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.56 and a current ratio of 2.98. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 32.47 and a beta of 0.99.

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

Insider Buying and Selling at DXP Enterprises

In other DXP Enterprises news, Director Timothy P. Halter sold 6,842 shares of DXP Enterprises stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $141.59, for a total transaction of $968,758.78. Following the transaction, the director directly owned 30,000 shares of the company’s stock, valued at $4,247,700. The trade was a 18.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Paz Maestas sold 10,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total transaction of $1,643,700.00. Following the completion of the sale, the chief marketing officer owned 590,262 shares of the company’s stock, valued at approximately $97,021,364.94. The trade was a 1.67% decrease in their position. The SEC filing for this sale provides additional information. 22.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DXP Enterprises

Institutional investors have recently added to or reduced their stakes in the company. Danske Bank A S purchased a new stake in shares of DXP Enterprises during the 4th quarter valued at $4,864,000. Nordea Investment Management AB bought a new stake in shares of DXP Enterprises during the 4th quarter worth $1,597,000. SG Americas Securities LLC boosted its holdings in shares of DXP Enterprises by 646.7% in the 4th quarter. SG Americas Securities LLC now owns 15,143 shares of the industrial products company’s stock worth $1,663,000 after buying an additional 13,115 shares during the last quarter. Oliver Luxxe Assets LLC purchased a new position in shares of DXP Enterprises in the 4th quarter worth about $2,955,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new position in DXP Enterprises during the fourth quarter valued at about $1,591,000. 74.82% of the stock is owned by 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.