DXP Enterprises (NASDAQ:DXPE) Shares Cross Above 200-Day Moving Average – What’s Next?

DXP Enterprises, Inc. (NASDAQ:DXPE)’s stock price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $164.52 and traded as high as $195.62. DXP Enterprises shares last traded at $191.43, with a volume of 161,724 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen lowered shares of DXP Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 13th. Stephens raised their price objective on DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Weiss Ratings lowered shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, September 17th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.

DXP Enterprises Trading Down 0.1%

The business’s 50-day moving average price is $183.44 and its 200-day moving average price is $164.84. The firm has a market capitalization of $2.83 billion, a PE ratio of 32.11 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.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results 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. The firm had revenue of $576.46 million during the quarter, compared to analysts’ expectations of $543.00 million. DXP Enterprises had a net margin of 4.35% and a return on equity of 18.51%.

Institutional Investors Weigh In On DXP Enterprises

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in shares of DXP Enterprises during the 2nd quarter worth approximately $13,566,000. Diversify Wealth Management LLC acquired a new position in shares of DXP Enterprises in the first quarter valued at $1,226,000. Quantinno Capital Management LP increased its holdings in shares of DXP Enterprises by 139.8% in the first quarter. Quantinno Capital Management LP now owns 8,817 shares of the industrial products company’s stock valued at $1,232,000 after purchasing an additional 5,140 shares during the last quarter. Odyssean LLC raised its position in shares of DXP Enterprises by 96.3% in the second quarter. Odyssean LLC now owns 17,000 shares of the industrial products company’s stock valued at $2,869,000 after purchasing an additional 8,340 shares during the period. Finally, Globeflex Capital L P acquired a new stake in shares of DXP Enterprises during the 2nd quarter worth about $6,507,000. 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 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.