Wall Street Zen Downgrades DXP Enterprises (NASDAQ:DXPE) to Buy

DXP Enterprises (NASDAQ:DXPE) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday, Wall Street Zen reports.

A number of other equities analysts also recently commented on the company. Stephens upped their target price on DXP Enterprises from $160.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Weiss Ratings raised DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 3rd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, DXP Enterprises currently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

DXP Enterprises Stock Down 3.9%

Shares of NASDAQ:DXPE opened at $179.79 on Friday. DXP Enterprises has a 1 year low of $84.04 and a 1 year high of $208.00. The company has a market cap of $2.79 billion, a PE ratio of 31.65 and a beta of 1.02. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.99 and a quick ratio of 2.58. The stock’s 50-day moving average is $178.35 and its 200 day moving average is $161.29.

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

Institutional Trading of DXP Enterprises

Several large investors have recently bought and sold shares of DXPE. WINTON GROUP Ltd raised its position in shares of DXP Enterprises by 2.9% in the 2nd 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 in the last quarter. Engineers Gate Manager LP lifted its stake in shares of DXP Enterprises by 68.3% in the 2nd quarter. Engineers Gate Manager LP now owns 11,429 shares of the industrial products company’s stock valued at $1,929,000 after purchasing an additional 4,639 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of DXP Enterprises during the second quarter valued at approximately $126,000. Nykredit A S bought a new stake in shares of DXP Enterprises during the second quarter valued at approximately $36,000. Finally, California State Teachers Retirement System grew its stake in DXP Enterprises by 16,332.2% in the second quarter. California State Teachers Retirement System now owns 2,567,210 shares of the industrial products company’s stock worth $433,191,000 after purchasing an additional 2,551,587 shares during the period. 74.82% of the stock is owned by institutional investors.

About DXP Enterprises

DXP Enterprises, Inc is an industrial distribution and services company that provides products and technical support to customers in a range of manufacturing, energy, mining, municipal water and wastewater, and other industrial markets. The company helps customers maintain and improve plant operations by supplying equipment, replacement parts, and related services.

Its offerings include rotating equipment such as pumps, compressors, and motors; power-transmission products; industrial bearings; hose and fluid-handling products; safety supplies; and other maintenance, repair, operating and production (MROP) products.