StockNews.com Downgrades DXP Enterprises (NASDAQ:DXPE) to Hold

StockNews.com cut shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a hold rating in a research note published on Tuesday morning.

Separately, Stephens increased their price objective on shares of DXP Enterprises from $75.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th.

DXP Enterprises Price Performance

Shares of DXP Enterprises stock opened at $88.40 on Tuesday. The stock has a 50 day moving average price of $94.21 and a 200-day moving average price of $75.70. 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 $1.39 billion, a price-to-earnings ratio of 22.78 and a beta of 1.66. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings data on Thursday, March 6th. The industrial products company reported $1.38 earnings per share 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 business had revenue of $470.91 million for the quarter, compared to analysts’ expectations of $447.00 million. Equities analysts expect that DXP Enterprises will post 4.07 EPS for the current year.

Insider Activity at DXP Enterprises

In related news, CMO Paz Maestas sold 4,328 shares of DXP Enterprises stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $89.04, for a total transaction of $385,365.12. Following the completion of the sale, the chief marketing officer now owns 613,039 shares in the company, valued at $54,584,992.56. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On DXP Enterprises

A number of institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC grew its stake in DXP Enterprises by 2,220.0% in the fourth quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 333 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of DXP Enterprises by 3,150.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company’s stock worth $43,000 after buying an additional 504 shares during the period. Quantbot Technologies LP purchased a new stake in shares of DXP Enterprises in the 3rd quarter worth $41,000. Lazard Asset Management LLC bought a new position in shares of DXP Enterprises during the 4th quarter worth $159,000. Finally, Hsbc Holdings PLC purchased a new position in shares of DXP Enterprises during the fourth quarter valued at $208,000. 74.82% of the stock is owned by hedge funds and other institutional investors.

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).