DXP Enterprises (NASDAQ:DXPE) Hits New 12-Month High – What’s Next?

DXP Enterprises, Inc. (NASDAQ:DXPE) reached a new 52-week high on Tuesday . The stock traded as high as $174.72 and last traded at $172.15, with a volume of 170761 shares trading hands. The stock had previously closed at $168.90.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DXPE. Wall Street Zen raised DXP Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Zacks Research upgraded DXP Enterprises from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Finally, Loop Capital set a $154.00 price objective on shares of DXP Enterprises in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, DXP Enterprises presently has an average rating of “Buy” and a consensus price target of $154.00.

DXP Enterprises Stock Performance

The stock has a market cap of $2.81 billion, a P/E ratio of 33.74 and a beta of 1.07. The firm has a 50 day moving average of $147.95 and a two-hundred day moving average of $127.27. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.94 and a current ratio of 3.34.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.48. The company had revenue of $527.39 million during 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, Inc. will post 6.2 EPS for the current fiscal year.

Insider Activity at DXP Enterprises

In other DXP Enterprises news, Director Joseph R. Mannes sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $137.95, for a total transaction of $206,925.00. Following the completion of the transaction, the director owned 13,964 shares in the company, valued at $1,926,333.80. This trade represents a 9.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 22.70% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

A number of hedge funds have recently made changes to their positions in DXPE. Wellington Management Group LLP boosted its position in DXP Enterprises by 12.7% in the fourth 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. Vanguard Group Inc. raised its stake in shares of DXP Enterprises by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 964,360 shares of the industrial products company’s stock valued at $105,877,000 after acquiring an additional 18,414 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of DXP Enterprises by 480.2% in the 4th quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company’s stock worth $82,859,000 after acquiring an additional 624,638 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of DXP Enterprises by 12,369,100.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company’s stock worth $40,785,000 after acquiring an additional 371,073 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in DXP Enterprises by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 335,991 shares of the industrial products company’s stock worth $36,895,000 after acquiring an additional 9,767 shares during the last quarter. Institutional investors and hedge funds 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.