DXP Enterprises (NASDAQ:DXPE) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

DXP Enterprises, Inc. (NASDAQ:DXPE) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $168.76 and traded as high as $187.36. DXP Enterprises shares last traded at $178.31, with a volume of 252,806 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings upgraded DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 29th. Stephens upped their target price on DXP Enterprises from $160.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded DXP Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 13th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.00.

DXP Enterprises Stock Performance

The company has a quick ratio of 2.58, a current ratio of 2.99 and a debt-to-equity ratio of 1.51. The stock has a fifty day moving average of $187.47 and a 200-day moving average of $169.05. The stock has a market cap of $2.73 billion, a PE ratio of 30.95 and a beta of 1.03.

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

Institutional Trading of DXP Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in DXP Enterprises by 6.3% in the 3rd quarter. GAMMA Investing LLC now owns 977 shares of the industrial products company’s stock worth $177,000 after buying an additional 58 shares in the last quarter. WINTON GROUP Ltd increased its position in shares of DXP Enterprises by 2.9% during the second quarter. WINTON GROUP Ltd now owns 6,786 shares of the industrial products company’s stock worth $1,145,000 after acquiring an additional 190 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of DXP Enterprises in the second quarter worth about $33,000. Nykredit A S acquired a new position in shares of DXP Enterprises in the second quarter worth about $36,000. Finally, Sanctuary Advisors LLC boosted its holdings in DXP Enterprises by 9.7% in the first quarter. Sanctuary Advisors LLC now owns 3,134 shares of the industrial products company’s stock valued at $438,000 after purchasing an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

DXP Enterprises Company Profile

DXP Enterprises, Inc is an industrial distribution and services company headquartered in Houston, Texas. The company supplies products and technical solutions used to maintain, repair and operate industrial facilities, with a focus on fluid-handling equipment and other critical components.

Its product offerings include pumps, valves, motors, bearings, power-transmission equipment, hoses, gaskets, safety products and other industrial supplies. DXP also provides engineered pumping systems, equipment repair, field services, technical support and supply-chain management solutions designed to help customers improve operating efficiency and reduce equipment downtime.

DXP serves customers across a range of industries, including energy, petrochemical, mining, food and beverage, water and wastewater, manufacturing and general industrial markets.