DXP Enterprises (NASDAQ:DXPE) Posts Earnings Results, Beats Estimates By $0.17 EPS

DXP Enterprises (NASDAQ:DXPE) announced its quarterly earnings data on Wednesday. The industrial products company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.17, Zacks reports. DXP Enterprises had a net margin of 4.35% and a return on equity of 18.89%. The business had revenue of $576.46 million during the quarter, compared to analyst estimates of $543.00 million.

DXP Enterprises Price Performance

DXPE stock traded up $0.62 during trading on Friday, hitting $198.83. The company had a trading volume of 85,550 shares, compared to its average volume of 157,429. The company has a fifty day moving average price of $164.04 and a two-hundred day moving average price of $151.88. The company has a current ratio of 2.98, a quick ratio of 2.56 and a debt-to-equity ratio of 1.60. The company has a market cap of $3.08 billion, a P/E ratio of 35.01 and a beta of 0.98. DXP Enterprises has a fifty-two week low of $84.04 and a fifty-two week high of $208.00.

Insider Buying and Selling at DXP Enterprises

In other DXP Enterprises news, Director Timothy P. Halter sold 6,842 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $141.59, for a total transaction of $968,758.78. Following the completion of the transaction, the director directly owned 30,000 shares in the company, valued at $4,247,700. This represents a 18.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Paz Maestas sold 10,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief marketing officer owned 590,262 shares in the company, valued at $97,021,364.94. This represents a 1.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 22.00% of the company’s stock.

Hedge Funds Weigh In On DXP Enterprises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DXPE. EverSource Wealth Advisors LLC increased its holdings in shares of DXP Enterprises by 3,507.7% during the second quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock worth $41,000 after buying an additional 456 shares in the last quarter. State of Wyoming bought a new position in DXP Enterprises in the 4th quarter valued at $152,000. Royal Bank of Canada raised its position in DXP Enterprises by 142.8% in the 4th quarter. Royal Bank of Canada now owns 1,408 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 828 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of DXP Enterprises by 498.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,802 shares of the industrial products company’s stock worth $158,000 after purchasing an additional 1,501 shares during the last quarter. Finally, Creative Planning bought a new stake in shares of DXP Enterprises during the third quarter worth $215,000. 74.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DXPE has been the topic of several research reports. Zacks Research lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Wall Street Zen lowered DXP Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Freedom Capital lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings cut DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Finally, Stephens lifted their price target on shares of DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, DXP Enterprises currently has an average rating of “Moderate Buy” and an average price target of $187.00.

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.