DXP Enterprises (NASDAQ:DXPE) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

DXP Enterprises, Inc. (NASDAQ:DXPE) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $145.71 and traded as high as $166.92. DXP Enterprises shares last traded at $165.54, with a volume of 89,826 shares traded.

Analysts Set New Price Targets

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

DXP Enterprises Stock Up 1.2%

The company has a quick ratio of 2.56, a current ratio of 2.98 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $2.57 billion, a PE ratio of 30.94 and a beta of 0.97. The business’s 50 day simple moving average is $157.57 and its 200 day simple moving average is $145.71.

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

Insider Activity at DXP Enterprises

In related news, Director Timothy P. Halter sold 6,842 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $141.59, for a total value of $968,758.78. Following the completion of the transaction, the director owned 30,000 shares of the company’s stock, valued at approximately $4,247,700. This trade represents a 18.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Paz Maestas sold 10,000 shares of DXP Enterprises stock in a transaction that occurred 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 transaction, the chief marketing officer owned 590,262 shares in the company, valued at approximately $97,021,364.94. The trade was a 1.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 22.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DXPE. KBC Group NV acquired a new position in DXP Enterprises during the first quarter valued at $51,000. EverSource Wealth Advisors LLC increased its holdings in shares of DXP Enterprises by 3,507.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 456 shares during the period. Clearstead Advisors LLC lifted its position in shares of DXP Enterprises by 164.5% in the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 306 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of DXP Enterprises by 35.4% in the fourth quarter. GAMMA Investing LLC now owns 860 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 225 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of DXP Enterprises during the fourth quarter worth approximately $152,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.

About DXP Enterprises

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.