DXP Enterprises (NASDAQ:DXPE) Raised to “Buy” at Wall Street Zen

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

Several other equities research analysts have also issued reports on the stock. Weiss Ratings raised shares of DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Stephens increased their target price on shares of DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday. Freedom Capital lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Zacks Research cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $187.00.

DXP Enterprises Price Performance

Shares of DXPE opened at $192.36 on Friday. The firm has a market cap of $2.98 billion, a PE ratio of 33.87 and a beta of 0.98. The firm’s 50 day moving average price is $164.98 and its 200 day moving average price is $152.36. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.58 and a current ratio of 2.99. DXP Enterprises has a twelve month low of $84.04 and a twelve month high of $208.00.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Wednesday, August 5th. The industrial products company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.59 by $0.17. The company had revenue of $576.46 million during the quarter, compared to the consensus estimate of $543.00 million. DXP Enterprises had a net margin of 4.35% and a return on equity of 18.51%.

Insider Transactions at DXP Enterprises

In other news, Director Timothy P. Halter sold 6,842 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $141.59, for a total value of $968,758.78. Following the sale, 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 SEC, which can be accessed through this hyperlink. Also, CMO Paz Maestas sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $164.37, for a total value of $1,643,700.00. Following the transaction, the chief marketing officer directly owned 590,262 shares of the company’s stock, valued at $97,021,364.94. This represents a 1.67% decrease in their position. The disclosure for this sale is available in the SEC filing. 22.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. KBC Group NV acquired a new stake in shares of DXP Enterprises in the first quarter worth $51,000. EverSource Wealth Advisors LLC boosted its holdings in DXP Enterprises by 3,507.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 456 shares during the period. Clearstead Advisors LLC boosted its holdings in DXP Enterprises by 164.5% in the 4th quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 306 shares during the period. State of Wyoming bought a new position in shares of DXP Enterprises during the 4th quarter worth about $152,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of DXP Enterprises during the 4th quarter worth about $154,000. 74.82% of the stock is owned by 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.