DXP Enterprises (NASDAQ:DXPE) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a strong-buy rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other analysts have also recently commented on the stock. Zacks Research cut shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings lowered shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 20th. Stephens increased their target price on shares of DXP Enterprises from $160.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Freedom Capital downgraded shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.

DXP Enterprises Trading Up 1.5%

Shares of DXPE stock opened at $184.00 on Friday. The business’s fifty day moving average price is $175.69 and its 200 day moving average price is $159.76. DXP Enterprises has a 1-year low of $84.04 and a 1-year high of $208.00. The firm has a market capitalization of $2.86 billion, a PE ratio of 32.39 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 released its earnings results on Wednesday, August 5th. The industrial products company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.17. The company had revenue of $576.46 million during 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%.

Insider Buying and Selling at DXP Enterprises

In other news, CMO Paz Maestas sold 10,000 shares of DXP Enterprises stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total transaction of $1,643,700.00. Following the completion of the transaction, the chief marketing officer owned 590,262 shares of the company’s stock, valued at $97,021,364.94. The trade was a 1.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 22.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DXP Enterprises

Large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its position in DXP Enterprises by 16,332.2% during the second quarter. California State Teachers Retirement System now owns 2,567,210 shares of the industrial products company’s stock worth $433,191,000 after acquiring an additional 2,551,587 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of DXP Enterprises by 480.2% in the fourth quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company’s stock valued at $82,859,000 after purchasing an additional 624,638 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of DXP Enterprises by 12,369,100.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company’s stock valued at $40,785,000 after purchasing an additional 371,073 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of DXP Enterprises by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company’s stock worth $133,867,000 after purchasing an additional 137,577 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of DXP Enterprises by 661.5% during the 1st quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock worth $10,608,000 after purchasing an additional 112,021 shares in the last quarter. 74.82% of the stock is owned by institutional investors and hedge funds.

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.