DXP Enterprises (NASDAQ:DXPE) Lowered to Hold Rating by Zacks Research

DXP Enterprises (NASDAQ:DXPE) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

DXPE has been the subject of a number of other research reports. Wall Street Zen upgraded shares of DXP Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Freedom Capital downgraded shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Loop Capital set a $154.00 price target on shares of DXP Enterprises in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $154.00.

DXP Enterprises Trading Down 3.6%

NASDAQ DXPE opened at $143.79 on Monday. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 26.88 and a beta of 1.07. The company’s 50 day moving average price is $147.92 and its 200 day moving average price is $128.25. DXP Enterprises has a one year low of $75.58 and a one year high of $183.91. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.56 and a current ratio of 2.98.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.12). The firm had revenue of $521.66 million for the quarter, compared to analysts’ expectations of $531.00 million. DXP Enterprises had a net margin of 4.27% and a return on equity of 18.16%. On average, sell-side analysts predict that DXP Enterprises will post 6.2 EPS for the current year.

Insider Buying and Selling

In other DXP Enterprises news, Director Joseph R. Mannes sold 1,500 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $137.95, for a total value of $206,925.00. Following the sale, the director directly owned 13,964 shares in the company, valued at approximately $1,926,333.80. The trade was a 9.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB bought a new stake in DXP Enterprises in the fourth quarter worth about $1,597,000. Danske Bank A S acquired a new position in shares of DXP Enterprises in the 4th quarter valued at about $4,864,000. SG Americas Securities LLC increased its holdings in shares of DXP Enterprises by 646.7% in the 4th quarter. SG Americas Securities LLC now owns 15,143 shares of the industrial products company’s stock valued at $1,663,000 after purchasing an additional 13,115 shares during the period. Oliver Luxxe Assets LLC acquired a new position in shares of DXP Enterprises in the 4th quarter valued at about $2,955,000. Finally, Intrua Financial LLC acquired a new position in shares of DXP Enterprises in the 3rd quarter valued at about $1,848,000. 74.82% of the stock is currently owned by 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.