DXP Enterprises (NASDAQ:DXPE) Rating Increased to Buy at Wall Street Zen

DXP Enterprises (NASDAQ:DXPE) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other equities research analysts also recently weighed in on the company. Zacks Research upgraded DXP Enterprises from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of DXP Enterprises in a research note on Monday, December 29th. Finally, Loop Capital set a $154.00 price objective on DXP Enterprises in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $154.00.

DXP Enterprises Stock Performance

Shares of DXPE stock opened at $136.64 on Friday. The firm has a 50 day moving average of $138.72 and a two-hundred day moving average of $120.51. The stock has a market capitalization of $2.12 billion, a PE ratio of 25.40 and a beta of 0.96. The company has a quick ratio of 2.94, a current ratio of 3.34 and a debt-to-equity ratio of 1.64. DXP Enterprises has a 52 week low of $67.68 and a 52 week high of $171.70.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.48. The business had revenue of $527.39 million for the quarter, compared to analyst estimates of $499.00 million. DXP Enterprises had a return on equity of 18.83% and a net margin of 4.40%. On average, research analysts predict that DXP Enterprises will post 4.07 EPS for the current fiscal year.

Insider Activity at DXP Enterprises

In related news, Director Joseph R. Mannes sold 1,500 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $137.95, for a total value 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 represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 22.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Oliver Luxxe Assets LLC purchased a new stake in DXP Enterprises during the fourth quarter worth approximately $2,955,000. Intrua Financial LLC acquired a new position in DXP Enterprises in the third quarter valued at approximately $1,848,000. Quadrature Capital Ltd purchased a new position in DXP Enterprises in the second quarter valued at approximately $712,000. Geode Capital Management LLC raised its holdings in DXP Enterprises by 2.9% during the second quarter. Geode Capital Management LLC now owns 329,543 shares of the industrial products company’s stock worth $28,888,000 after purchasing an additional 9,216 shares in the last quarter. Finally, Nomura Holdings Inc. raised its holdings in DXP Enterprises by 22.1% during the second quarter. Nomura Holdings Inc. now owns 86,578 shares of the industrial products company’s stock worth $7,589,000 after purchasing an additional 15,691 shares in the last quarter. 74.82% of the stock is owned by institutional investors and hedge funds.

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.