StockNews.com Upgrades DXP Enterprises (NASDAQ:DXPE) to “Buy”

DXP Enterprises (NASDAQ:DXPE) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

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

DXP Enterprises Stock Performance

Shares of DXPE stock opened at $82.90 on Wednesday. The business’s 50 day moving average is $92.43 and its two-hundred day moving average is $76.92. DXP Enterprises has a 12-month low of $43.25 and a 12-month high of $107.06. The company has a market capitalization of $1.30 billion, a P/E ratio of 21.37 and a beta of 1.66. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29.

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

Insider Activity

In related news, CEO David R. Little purchased 5,999 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were purchased at an average price of $82.70 per share, with a total value of $496,117.30. Following the completion of the acquisition, the chief executive officer now directly owns 1,257,593 shares in the company, valued at $104,002,941.10. This represents a 0.48 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kent Nee Hung Yee sold 3,457 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $88.43, for a total transaction of $305,702.51. Following the completion of the transaction, the chief financial officer now directly owns 68,849 shares in the company, valued at $6,088,317.07. This represents a 4.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,785 shares of company stock worth $1,139,818. Corporate insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On DXP Enterprises

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

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).