DXP Enterprises (NASDAQ:DXPE) Cut to “Hold” at StockNews.com

StockNews.com cut shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a hold rating in a report published on Friday.

Separately, Stephens upped their target price on shares of DXP Enterprises from $75.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, March 10th.

DXP Enterprises Stock Performance

DXPE stock opened at $89.76 on Friday. The stock’s 50 day simple moving average is $83.86 and its 200 day simple moving average is $84.21. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29. DXP Enterprises has a 12-month low of $43.25 and a 12-month high of $107.06. The stock has a market capitalization of $1.41 billion, a PE ratio of 23.13 and a beta of 1.26.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.06. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The firm had revenue of $476.57 million for the quarter, compared to the consensus estimate of $477.00 million. As a group, research analysts forecast that DXP Enterprises will post 4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DXP Enterprises news, CEO David R. Little purchased 5,999 shares of DXP Enterprises stock in a transaction dated Wednesday, March 26th. The stock was purchased at an average price of $82.70 per share, with a total value of $496,117.30. Following the transaction, the chief executive officer now directly owns 1,257,593 shares of the company’s stock, valued at $104,002,941.10. This trade represents a 0.48% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy P. Halter sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $89.75, for a total transaction of $448,750.00. Following the completion of the transaction, the director now directly owns 45,925 shares in the company, valued at approximately $4,121,768.75. The trade was a 9.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,785 shares of company stock valued at $1,139,818. Company insiders own 22.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of DXP Enterprises by 13.3% in the 1st quarter. Wellington Management Group LLP now owns 931,004 shares of the industrial products company’s stock worth $76,584,000 after purchasing an additional 109,151 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in DXP Enterprises by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company’s stock valued at $59,513,000 after purchasing an additional 38,900 shares during the period. Invesco Ltd. increased its position in DXP Enterprises by 22.6% in the first quarter. Invesco Ltd. now owns 280,430 shares of the industrial products company’s stock worth $23,068,000 after buying an additional 51,664 shares in the last quarter. Northern Trust Corp increased its position in DXP Enterprises by 10.2% in the fourth quarter. Northern Trust Corp now owns 228,940 shares of the industrial products company’s stock worth $18,915,000 after buying an additional 21,220 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of DXP Enterprises by 2,589.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,349 shares of the industrial products company’s stock worth $12,339,000 after buying an additional 143,795 shares during the period. Hedge funds and other institutional investors own 74.82% of the company’s stock.

About DXP Enterprises

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).