DXP Enterprises (NASDAQ:DXPE) Sees Unusually-High Trading Volume – Should You Buy?

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) saw unusually-high trading volume on Wednesday . Approximately 194,696 shares changed hands during mid-day trading, an increase of 42% from the previous session’s volume of 137,232 shares.The stock last traded at $150.1210 and had previously closed at $154.62.

Wall Street Analysts Forecast Growth

DXPE has been the subject of a number of research reports. Zacks Research raised shares of DXP Enterprises from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Wall Street Zen upgraded shares of DXP Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Loop Capital set a $154.00 price objective on shares of DXP Enterprises in a report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of DXP Enterprises in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat, DXP Enterprises presently has an average rating of “Buy” and an average target price of $154.00.

DXP Enterprises Trading Down 0.4%

The business’s fifty day moving average is $143.30 and its 200-day moving average is $123.39. The firm has a market cap of $2.35 billion, a P/E ratio of 28.09 and a beta of 0.96. 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 data on Wednesday, February 25th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.48. The business had revenue of $527.39 million during the quarter, compared to analyst estimates of $499.00 million. DXP Enterprises had a net margin of 4.40% and a return on equity of 18.83%. Analysts predict that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Insiders Place Their Bets

In other DXP Enterprises news, Director Joseph R. Mannes sold 1,500 shares of the stock in a transaction that occurred on 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 sale, the director owned 13,964 shares of the company’s stock, valued at approximately $1,926,333.80. This represents a 9.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 22.70% of the company’s stock.

Institutional Trading of DXP Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HM Payson & Co. acquired a new stake in DXP Enterprises during the 3rd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC grew its position in shares of DXP Enterprises by 3,507.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock worth $41,000 after buying an additional 456 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in shares of DXP Enterprises during the 3rd quarter worth approximately $58,000. Clearstead Advisors LLC grew its position in shares of DXP Enterprises by 164.5% during the 4th quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock worth $54,000 after buying an additional 306 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of DXP Enterprises by 35.4% during the 4th quarter. GAMMA Investing LLC now owns 860 shares of the industrial products company’s stock worth $94,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 74.82% of the company’s stock.

DXP Enterprises Company Profile

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.