DXP Enterprises (NASDAQ:DXPE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada, Mexico and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production (MROP) services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP’s breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. “

How to Become a New Pot Stock Millionaire

Separately, BidaskClub raised shares of DXP Enterprises from a “buy” rating to a “strong-buy” rating in a report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $44.00.

DXP Enterprises (NASDAQ DXPE) traded up $0.53 during trading on Tuesday, reaching $32.76. 140,698 shares of the company were exchanged, compared to its average volume of 91,991. The company has a quick ratio of 1.79, a current ratio of 2.51 and a debt-to-equity ratio of 0.91. The company has a market cap of $562.28, a price-to-earnings ratio of 33.43 and a beta of 2.64. DXP Enterprises has a twelve month low of $24.86 and a twelve month high of $42.00.

In related news, VP Todd Hamlin sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $29.68, for a total transaction of $74,200.00. Following the sale, the vice president now owns 23,446 shares of the company’s stock, valued at approximately $695,877.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kent Nee Hung Yee sold 2,200 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $29.69, for a total transaction of $65,318.00. Following the completion of the transaction, the insider now directly owns 40,984 shares of the company’s stock, valued at approximately $1,216,814.96. The disclosure for this sale can be found here. Insiders have sold a total of 34,200 shares of company stock worth $1,010,218 in the last ninety days. 9.60% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in DXP Enterprises by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,000 shares of the industrial products company’s stock worth $448,000 after buying an additional 654 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in DXP Enterprises by 9.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 22,960 shares of the industrial products company’s stock worth $731,000 after buying an additional 2,011 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in DXP Enterprises by 59.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 5,820 shares of the industrial products company’s stock worth $183,000 after buying an additional 2,180 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in DXP Enterprises by 46.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,346 shares of the industrial products company’s stock worth $263,000 after buying an additional 2,658 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its stake in DXP Enterprises by 15.8% in the 4th quarter. Pinebridge Investments L.P. now owns 25,592 shares of the industrial products company’s stock worth $757,000 after buying an additional 3,497 shares in the last quarter. 75.80% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “DXP Enterprises (DXPE) Lowered to Hold at Zacks Investment Research” was published by Watch List News and is owned by of Watch List News. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international trademark and copyright law. The original version of this piece of content can be read at https://www.watchlistnews.com/dxp-enterprises-dxpe-lowered-to-hold-at-zacks-investment-research/1950833.html.

About DXP Enterprises

DXP Enterprises, Inc (DXP) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers. The Company operates through three segments: Service Centers, Supply Chain Services and Innovative Pumping Solutions. The Service Centers segment provides MRO products, equipment and services, including technical expertise and logistics capabilities to industrial customers.

Get a free copy of the Zacks research report on DXP Enterprises (DXPE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for DXP Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DXP Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.