DXP Enterprises (NASDAQ:DXPE) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

DXP Enterprises, Inc. (NASDAQ:DXPE)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $137.96 and traded as high as $175.12. DXP Enterprises shares last traded at $173.69, with a volume of 267,056 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Freedom Capital downgraded DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Loop Capital set a $154.00 target price on DXP Enterprises in a research note on Monday, March 2nd. Zacks Research downgraded shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of DXP Enterprises in a research report on Friday, May 22nd. Finally, Wall Street Zen cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, DXP Enterprises has a consensus rating of “Moderate Buy” and a consensus target price of $154.00.

DXP Enterprises Price Performance

The firm has a market capitalization of $2.69 billion, a P/E ratio of 32.47 and a beta of 0.99. The business has a fifty day moving average of $157.43 and a 200-day moving average of $138.21. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.56 and a current ratio of 2.98.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Thursday, May 7th. The industrial products company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.12). DXP Enterprises had a net margin of 4.27% and a return on equity of 18.16%. The business had revenue of $521.66 million during the quarter, compared to analyst estimates of $531.00 million. On average, sell-side analysts forecast that DXP Enterprises, Inc. will post 6.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Timothy P. Halter sold 6,842 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $141.59, for a total transaction of $968,758.78. Following the transaction, the director directly owned 30,000 shares of the company’s stock, valued at approximately $4,247,700. This trade represents a 18.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Paz Maestas sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $164.37, for a total transaction of $1,643,700.00. Following the transaction, the chief marketing officer directly owned 590,262 shares in the company, valued at approximately $97,021,364.94. The trade was a 1.67% decrease in their position. The SEC filing for this sale provides additional information. 22.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DXPE. ProShare Advisors LLC grew its stake in shares of DXP Enterprises by 3.4% in the 4th quarter. ProShare Advisors LLC now owns 2,527 shares of the industrial products company’s stock valued at $277,000 after buying an additional 82 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in DXP Enterprises by 0.9% during the second quarter. CANADA LIFE ASSURANCE Co now owns 10,857 shares of the industrial products company’s stock valued at $950,000 after acquiring an additional 100 shares in the last quarter. Private Advisor Group LLC raised its position in DXP Enterprises by 1.2% during the third quarter. Private Advisor Group LLC now owns 10,247 shares of the industrial products company’s stock valued at $1,220,000 after acquiring an additional 122 shares in the last quarter. Franklin Resources Inc. lifted its stake in DXP Enterprises by 2.0% in the third quarter. Franklin Resources Inc. now owns 9,228 shares of the industrial products company’s stock valued at $1,099,000 after acquiring an additional 185 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in DXP Enterprises by 2.9% in the third quarter. Illinois Municipal Retirement Fund now owns 7,311 shares of the industrial products company’s stock valued at $871,000 after acquiring an additional 207 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.