Stephens Forecasts Strong Price Appreciation for DXP Enterprises (NASDAQ:DXPE) Stock

DXP Enterprises (NASDAQ:DXPE) had its price target boosted by investment analysts at Stephens from $75.00 to $95.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Stephens’ target price suggests a potential upside of 15.17% from the company’s previous close.

Separately, StockNews.com cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, December 20th.

DXP Enterprises Price Performance

DXPE stock opened at $82.49 on Monday. DXP Enterprises has a one year low of $43.25 and a one year high of $107.06. The stock has a market cap of $1.29 billion, a PE ratio of 21.26 and a beta of 1.66. The firm has a 50 day simple moving average of $94.25 and a two-hundred day simple moving average of $73.36. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings data on Thursday, March 6th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.49. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. The company had revenue of $470.91 million during the quarter, compared to analysts’ expectations of $447.00 million. On average, analysts predict that DXP Enterprises will post 4.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in DXP Enterprises by 355.4% in the 3rd quarter. Barclays PLC now owns 23,723 shares of the industrial products company’s stock worth $1,267,000 after purchasing an additional 18,514 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of DXP Enterprises by 193.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,044 shares of the industrial products company’s stock worth $5,232,000 after acquiring an additional 64,611 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of DXP Enterprises by 4.1% in the 3rd quarter. Pacer Advisors Inc. now owns 744,587 shares of the industrial products company’s stock worth $39,731,000 after acquiring an additional 29,131 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of DXP Enterprises in the 3rd quarter worth about $1,107,000. Finally, FMR LLC increased its stake in shares of DXP Enterprises by 21.8% in the 3rd quarter. FMR LLC now owns 776,950 shares of the industrial products company’s stock worth $41,458,000 after acquiring an additional 139,027 shares in the last quarter. 74.82% of the stock is currently owned by institutional investors.

About DXP Enterprises

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).