DXP Enterprises (NASDAQ:DXPE) Sees Large Volume Increase – Time to Buy?

DXP Enterprises, Inc. (NASDAQ:DXPE) saw unusually-high trading volume on Wednesday . Approximately 194,696 shares were traded during 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.

Analysts Set New Price Targets

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

DXP Enterprises Stock Down 3.3%

The stock has a 50-day simple moving average of $142.84 and a two-hundred day simple moving average of $122.99. The company has a quick ratio of 2.94, a current ratio of 3.34 and a debt-to-equity ratio of 1.64. The firm has a market cap of $2.32 billion, a PE ratio of 27.78 and a beta of 0.96.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.48. The firm had revenue of $527.39 million during the quarter, compared to analysts’ expectations of $499.00 million. DXP Enterprises had a return on equity of 18.83% and a net margin of 4.40%. Analysts expect that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Insiders Place Their Bets

In other DXP Enterprises news, Director Joseph R. Mannes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $137.95, for a total value of $206,925.00. Following the completion of the sale, the director owned 13,964 shares of the company’s stock, valued at $1,926,333.80. This represents a 9.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 22.40% of the stock is owned by insiders.

Institutional Investors Weigh In On DXP Enterprises

Institutional investors have recently made changes to their positions in the business. HM Payson & Co. bought a new position in shares of DXP Enterprises during the 3rd quarter valued at $27,000. EverSource Wealth Advisors LLC boosted its position in DXP Enterprises by 3,507.7% during the second quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock valued at $41,000 after buying an additional 456 shares during the period. Clearstead Advisors LLC grew its stake in shares of DXP Enterprises by 164.5% during the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock valued at $54,000 after buying an additional 306 shares during the last quarter. TD Waterhouse Canada Inc. bought a new position in shares of DXP Enterprises during the third quarter valued at about $58,000. Finally, GAMMA Investing LLC increased its holdings in shares of DXP Enterprises by 35.4% in the fourth 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. Hedge funds and other institutional investors own 74.82% of the company’s stock.

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.