DXP Enterprises (NASDAQ:DXPE) Share Price Breaks Below 200 Day Moving Average – Should You Sell?

DXP Enterprises, Inc. (NASDAQ:DXPE)’s stock price passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $161.84 and traded as low as $155.16. DXP Enterprises shares last traded at $158.38, with a volume of 208,956 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings cut DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, October 26th. Wall Street Zen cut DXP Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. Finally, Stephens boosted their target price on DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, DXP Enterprises has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.

DXP Enterprises Trading Down 11.8%

The business’s 50 day simple moving average is $181.14 and its two-hundred day simple moving average is $161.84. The stock has a market cap of $2.46 billion, a P/E ratio of 27.88 and a beta of 1.03. The company has a quick ratio of 2.58, a current ratio of 2.99 and a debt-to-equity ratio of 1.51.

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

Hedge Funds Weigh In On DXP Enterprises

A number of hedge funds have recently modified their holdings of DXPE. Bank of New York Mellon Corp acquired a new stake in DXP Enterprises in the second quarter valued at $13,566,000. Diversify Wealth Management LLC acquired a new position in DXP Enterprises during the 1st quarter worth about $1,226,000. Odyssean LLC lifted its holdings in DXP Enterprises by 96.3% during the 2nd quarter. Odyssean LLC now owns 17,000 shares of the industrial products company’s stock worth $2,869,000 after buying an additional 8,340 shares during the period. SummerHaven Investment Management LLC grew its position in shares of DXP Enterprises by 110.6% in the 3rd quarter. SummerHaven Investment Management LLC now owns 17,271 shares of the industrial products company’s stock valued at $3,130,000 after buying an additional 9,070 shares during the last quarter. Finally, Congress Asset Management Co. grew its position in shares of DXP Enterprises by 21.7% in the 3rd quarter. Congress Asset Management Co. now owns 64,015 shares of the industrial products company’s stock valued at $11,600,000 after buying an additional 11,423 shares during the last quarter. Institutional investors and hedge funds own 74.82% of the company’s stock.

About DXP Enterprises

DXP Enterprises, Inc is an industrial distribution and services company headquartered in Houston, Texas. The company supplies maintenance, repair and operating products used by industrial, commercial and government customers, with an emphasis on rotating equipment, fluid handling and related industrial applications.

Its product offerings include pumps, valves, bearings, power-transmission components, hose and rubber products, industrial supplies, safety equipment and other maintenance products.