DXP Enterprises (NASDAQ:DXPE) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

DXP Enterprises, Inc. (NASDAQ:DXPE)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $145.71 and traded as high as $166.92. DXP Enterprises shares last traded at $165.54, with a volume of 89,826 shares changing hands.

Wall Street Analyst Weigh In

DXPE has been the subject of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of DXP Enterprises in a report on Friday, May 22nd. Freedom Capital lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Zacks Research lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Wall Street Zen cut DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, DXP Enterprises currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.00.

DXP Enterprises Stock Up 0.5%

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 cap of $2.61 billion, a price-to-earnings ratio of 31.34 and a beta of 0.97. The business’s 50 day moving average is $157.92 and its 200 day moving average is $146.07.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $531.00 million. Equities analysts expect that DXP Enterprises, Inc. will post 6.2 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Timothy P. Halter sold 6,842 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $141.59, for a total value of $968,758.78. Following the completion of the sale, the director directly owned 30,000 shares of the company’s stock, valued at $4,247,700. This represents a 18.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Paz Maestas sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $164.37, for a total transaction of $1,643,700.00. Following the transaction, the chief marketing officer directly owned 590,262 shares in the company, valued at $97,021,364.94. The trade was a 1.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 22.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DXP Enterprises

Institutional investors and hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP increased its stake 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 worth $82,859,000 after acquiring an additional 624,638 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of DXP Enterprises by 12,369,100.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company’s stock worth $40,785,000 after purchasing an additional 371,073 shares in the last quarter. Wellington Management Group LLP raised 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. Millennium Management LLC lifted its holdings 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 valued at $10,608,000 after buying an additional 112,021 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of DXP Enterprises by 41.6% in the 3rd quarter. Invesco Ltd. now owns 250,790 shares of the industrial products company’s stock valued at $29,862,000 after buying an additional 73,653 shares in the last quarter. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

DXP Enterprises Company Profile

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.