DXP Enterprises (NASDAQ:DXPE) Raised to Strong-Buy at Zacks Research

DXP Enterprises (NASDAQ:DXPE) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Wall Street Zen downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of DXP Enterprises in a research report on Monday, December 29th. Finally, Loop Capital set a $154.00 target price on DXP Enterprises in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $154.00.

DXP Enterprises Stock Performance

Shares of DXPE opened at $130.46 on Thursday. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 24.25 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. The business’s 50 day moving average is $134.46 and its two-hundred day moving average is $119.77. DXP Enterprises has a 52-week low of $67.68 and a 52-week high of $171.70.

DXP Enterprises (NASDAQ:DXPE) last issued its earnings results 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. DXP Enterprises had a net margin of 4.40% and a return on equity of 18.83%. The company had revenue of $527.39 million for the quarter, compared to analysts’ expectations of $499.00 million. Analysts forecast that DXP Enterprises will post 4.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joseph R. Mannes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $137.95, for a total value of $206,925.00. Following the completion of the transaction, the director owned 13,964 shares of the company’s stock, valued at approximately $1,926,333.80. This trade represents a 9.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 22.70% of the company’s stock.

Hedge Funds Weigh In On DXP Enterprises

Several institutional investors and hedge funds have recently modified their holdings of DXPE. Virtue Capital Management LLC increased its stake in shares of DXP Enterprises by 94.7% in the fourth quarter. Virtue Capital Management LLC now owns 9,160 shares of the industrial products company’s stock worth $987,000 after acquiring an additional 4,456 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of DXP Enterprises during the 4th quarter worth about $1,094,000. Wellington Management Group LLP grew its stake in shares of DXP Enterprises by 12.7% in the 4th quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company’s stock valued at $133,867,000 after buying an additional 137,577 shares in the last quarter. Numerai GP LLC bought a new position in DXP Enterprises during the fourth quarter valued at approximately $469,000. Finally, Evolve Private Wealth LLC acquired a new position in shares of DXP Enterprises during the 4th quarter worth $554,000. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

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.