DXP Enterprises (NASDAQ:DXPE) Upgraded 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 published on Saturday,Wall Street Zen reports.

DXPE has been the subject of several other research reports. Stephens increased their target price on DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Zacks Research downgraded DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Freedom Capital lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Weiss Ratings cut DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 20th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $187.00.

DXP Enterprises Stock Performance

Shares of DXPE stock opened at $184.00 on Friday. The firm’s 50 day moving average is $176.11 and its 200 day moving average is $160.08. The stock has a market capitalization of $2.86 billion, a P/E ratio of 32.39 and a beta of 1.02. The company has a current ratio of 2.99, a quick ratio of 2.58 and a debt-to-equity ratio of 1.51. 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 Wednesday, August 5th. The industrial products company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.59 by $0.17. The company had revenue of $576.46 million during the quarter, compared to analyst estimates of $543.00 million. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.

Insider Activity

In related news, CMO Paz Maestas sold 10,000 shares of DXP Enterprises stock in a transaction dated 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 transaction, the chief marketing officer directly owned 590,262 shares of the company’s stock, valued at approximately $97,021,364.94. The trade was a 1.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 22.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DXPE. Public Employees Retirement System of Ohio purchased a new stake in shares of DXP Enterprises in the second quarter worth approximately $33,000. Nykredit A S purchased a new position in DXP Enterprises during the 2nd quarter valued at $36,000. EverSource Wealth Advisors LLC grew its position in DXP Enterprises by 3,507.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 456 shares during the last quarter. KBC Group NV bought a new position in DXP Enterprises in the 1st quarter valued at $51,000. Finally, Clearstead Advisors LLC increased its stake in DXP Enterprises by 164.5% in the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 306 shares during the period. Hedge funds and other institutional investors own 74.82% of the company’s stock.

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.