DXP Enterprises, Inc. (DXPE) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of DXP Enterprises, Inc. (NASDAQ:DXPE) from a hold rating to a buy rating in a research report released on Thursday morning. They currently have $35.00 target price on the industrial products company’s stock.
According to Zacks, “DXP Enterprises Inc. is a leading supplier of maintenance, repair and operating products, equipment and services to industrial customers. The company offers its customers a single source of supply on an efficient and competitive basis by being a first-tier distributor which purchases its products directly from the manufacturer. The company also provides value-added services such as system design, fabrication, installation, repair and maintenance for its customers. “
DXPE has been the subject of several other research reports. KeyCorp restated a sector weight rating on shares of DXP Enterprises in a report on Friday, May 26th. BidaskClub upgraded DXP Enterprises from a sell rating to a hold rating in a report on Wednesday, July 12th. Finally, Sidoti restated a buy rating and set a $49.00 price target (up previously from $47.00) on shares of DXP Enterprises in a report on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $39.50.
Shares of DXP Enterprises (NASDAQ:DXPE) traded down 3.05% during mid-day trading on Thursday, reaching $28.59. The company’s stock had a trading volume of 136,291 shares. The company has a 50-day moving average price of $34.47 and a 200 day moving average price of $35.71. The company has a market cap of $497.49 million, a PE ratio of 33.24 and a beta of 2.67. DXP Enterprises has a 52-week low of $15.12 and a 52-week high of $42.00.
DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $250.69 million during the quarter, compared to analysts’ expectations of $246.15 million. DXP Enterprises had a return on equity of 6.15% and a net margin of 1.58%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. Equities analysts expect that DXP Enterprises will post $0.85 earnings per share for the current year.
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In other news, VP David C. Vinson sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $39.12, for a total value of $117,360.00. Following the completion of the sale, the vice president now directly owns 6,681 shares of the company’s stock, valued at approximately $261,360.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kent Nee Hung Yee sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $37.63, for a total value of $150,520.00. Following the completion of the sale, the insider now directly owns 40,278 shares of the company’s stock, valued at $1,515,661.14. The disclosure for this sale can be found here. 9.60% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. bought a new stake in DXP Enterprises during the first quarter valued at about $102,000. State of Alaska Department of Revenue raised its stake in DXP Enterprises by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 3,059 shares of the industrial products company’s stock valued at $105,000 after buying an additional 1,349 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in DXP Enterprises by 3.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,640 shares of the industrial products company’s stock valued at $126,000 after buying an additional 110 shares during the last quarter. Mason Street Advisors LLC raised its stake in shares of DXP Enterprises by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,608 shares of the industrial products company’s stock worth $137,000 after buying an additional 236 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in shares of DXP Enterprises during the first quarter worth about $201,000. 73.90% of the stock is owned by institutional investors and hedge funds.
DXP Enterprises Company Profile
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.
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