DXP Enterprises (NASDAQ:DXPE) Lowered to Hold Rating by Zacks Research

Zacks Research cut shares of DXP Enterprises (NASDAQ:DXPE) from a strong-buy rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

DXPE has been the subject of a number of other research reports. Wall Street Zen upgraded DXP Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Loop Capital set a $154.00 price target on DXP Enterprises in a report on Monday, March 2nd. Finally, Freedom Capital cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday. Two research 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, DXP Enterprises has an average rating of “Moderate Buy” and a consensus target price of $154.00.

DXP Enterprises Trading Down 3.6%

DXP Enterprises stock opened at $143.79 on Monday. DXP Enterprises has a 52 week low of $75.58 and a 52 week high of $183.91. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.56 and a current ratio of 2.98. The stock has a market capitalization of $2.23 billion, a P/E ratio of 26.88 and a beta of 1.07. The stock has a 50-day simple moving average of $147.92 and a 200 day simple moving average of $128.25.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Thursday, May 7th. The industrial products company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.12). DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%.The business had revenue of $521.66 million for the quarter, compared to the consensus estimate of $531.00 million. Analysts expect that DXP Enterprises will post 6.2 earnings per share for the current year.

Insider Activity

In other news, Director Joseph R. Mannes sold 1,500 shares of the business’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 transaction of $206,925.00. Following the completion of the sale, the director owned 13,964 shares in the company, valued at $1,926,333.80. The trade was a 9.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 22.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DXP Enterprises

A number of institutional investors have recently made changes to their positions in DXPE. Wasatch Advisors LP boosted its holdings in shares of DXP Enterprises by 480.2% during the fourth quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company’s stock worth $82,859,000 after acquiring an additional 624,638 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of DXP Enterprises by 12,369,100.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company’s stock worth $40,785,000 after acquiring an additional 371,073 shares during the period. Wellington Management Group LLP boosted its holdings in shares of DXP Enterprises by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company’s stock worth $133,867,000 after acquiring an additional 137,577 shares during the period. Millennium Management LLC boosted its holdings in shares of DXP Enterprises by 661.5% during the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock worth $10,608,000 after acquiring an additional 112,021 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of DXP Enterprises by 41.6% during the third quarter. Invesco Ltd. now owns 250,790 shares of the industrial products company’s stock worth $29,862,000 after acquiring an additional 73,653 shares during the period. 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.