DXP Enterprises (NASDAQ:DXPE) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a hold rating in a report issued on Sunday,Wall Street Zen reports.

Other equities analysts have also issued reports about the stock. Weiss Ratings lowered shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Stephens raised their price target 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. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, DXP Enterprises has a consensus rating of “Moderate Buy” and an average price target of $183.00.

DXP Enterprises Stock Down 0.7%

Shares of NASDAQ DXPE opened at $155.40 on Friday. The firm’s 50-day simple moving average is $177.70 and its 200 day simple moving average is $162.23. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 25.86 and a beta of 1.03. The company has a quick ratio of 2.56, a current ratio of 2.96 and a debt-to-equity ratio of 1.43. DXP Enterprises has a 12-month low of $84.04 and a 12-month high of $208.00.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings data on Thursday, November 5th. The industrial products company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.15). The company had revenue of $587.18 million for the quarter, compared to the consensus estimate of $584.50 million. DXP Enterprises had a return on equity of 18.67% and a net margin of 4.45%.

Hedge Funds Weigh In On DXP Enterprises

Several hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new stake in DXP Enterprises in the second quarter worth about $33,000. Nykredit A S bought a new stake in DXP Enterprises during the 2nd quarter worth about $36,000. USA Financial Formulas bought a new stake in DXP Enterprises during the 3rd quarter worth about $39,000. GK Wealth Management LLC acquired a new position in DXP Enterprises during the 3rd quarter valued at about $52,000. Finally, Nisa Investment Advisors LLC lifted its position in DXP Enterprises by 99.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 351 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 175 shares during the period. Institutional investors own 74.82% of the company’s stock.

About DXP Enterprises

DXP Enterprises, Inc. is a distributor of industrial products and provider of related services. It supplies maintenance, repair and operating products, including bearings, power-transmission components, safety equipment and other industrial supplies to customers in a range of industries. The company also provides pump and rotating-equipment services, such as pump repair and packaged pumping systems, as well as supply-chain services that support customers’ procurement and inventory-management needs.