DXP Enterprises (NASDAQ:DXPE) Rating Increased to Moderate Buy at Singular Research

Singular Research upgraded shares of DXP Enterprises (NASDAQ:DXPE) to a moderate buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Separately, Wall Street Zen downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $95.00.

DXP Enterprises Stock Down 5.1%

Shares of DXP Enterprises stock opened at $113.86 on Tuesday. The business has a 50-day moving average of $110.74 and a 200-day moving average of $93.03. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.79 and a quick ratio of 2.33. The company has a market capitalization of $1.79 billion, a PE ratio of 21.73 and a beta of 1.24. DXP Enterprises has a 1-year low of $45.81 and a 1-year high of $129.56.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.04. The company had revenue of $498.68 million during the quarter, compared to the consensus estimate of $499.00 million. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%. As a group, equities analysts forecast that DXP Enterprises will post 4.07 EPS for the current fiscal year.

Insider Buying and Selling

In other DXP Enterprises news, CMO Paz Maestas sold 5,000 shares of DXP Enterprises stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $120.11, for a total value of $600,550.00. Following the completion of the transaction, the chief marketing officer directly owned 600,737 shares in the company, valued at $72,154,521.07. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher T. Gregory sold 5,000 shares of DXP Enterprises stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $122.00, for a total value of $610,000.00. Following the completion of the transaction, the insider owned 24,436 shares of the company’s stock, valued at approximately $2,981,192. The trade was a 16.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,337 shares of company stock valued at $6,431,516 over the last 90 days. 22.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DXP Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in DXP Enterprises by 13.3% in the first quarter. Wellington Management Group LLP now owns 931,004 shares of the industrial products company’s stock valued at $76,584,000 after acquiring an additional 109,151 shares during the period. American Century Companies Inc. raised its holdings in shares of DXP Enterprises by 24.5% during the second quarter. American Century Companies Inc. now owns 562,210 shares of the industrial products company’s stock valued at $49,278,000 after buying an additional 110,482 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of DXP Enterprises by 2.9% during the second quarter. Geode Capital Management LLC now owns 329,543 shares of the industrial products company’s stock valued at $28,888,000 after buying an additional 9,216 shares during the last quarter. Invesco Ltd. raised its holdings in shares of DXP Enterprises by 22.6% during the first quarter. Invesco Ltd. now owns 280,430 shares of the industrial products company’s stock valued at $23,068,000 after buying an additional 51,664 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of DXP Enterprises by 661.5% during the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock valued at $10,608,000 after buying an additional 112,021 shares during the last quarter. 74.82% of the stock is currently owned by institutional investors and hedge funds.

DXP Enterprises Company Profile

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).