DXP Enterprises (NASDAQ:DXPE) Hits New 1-Year High – What’s Next?

DXP Enterprises, Inc. (NASDAQ:DXPE)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $151.87 and last traded at $149.75, with a volume of 2319 shares changing hands. The stock had previously closed at $139.89.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DXP Enterprises in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $95.00.

DXP Enterprises Price Performance

The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 28.18 and a beta of 1.00. The company has a 50-day simple moving average of $118.13 and a two-hundred day simple moving average of $115.20. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.36 and a current ratio of 2.77.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Intrua Financial LLC bought a new position in DXP Enterprises in the 3rd quarter valued at about $1,848,000. Geode Capital Management LLC grew its position in shares of DXP Enterprises by 2.9% in the second quarter. Geode Capital Management LLC now owns 329,543 shares of the industrial products company’s stock valued at $28,888,000 after purchasing an additional 9,216 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of DXP Enterprises by 23.7% during the second quarter. Envestnet Asset Management Inc. now owns 21,345 shares of the industrial products company’s stock worth $1,871,000 after purchasing an additional 4,087 shares during the period. Quadrature Capital Ltd acquired a new stake in DXP Enterprises during the 2nd quarter worth approximately $712,000. Finally, Thoroughbred Financial Services LLC bought a new stake in DXP Enterprises in the 2nd quarter valued at $531,000. Institutional investors own 74.82% of the company’s stock.

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.