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

StockNews.com lowered shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a hold rating in a research report released on Thursday morning.

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

DXP Enterprises Stock Performance

NASDAQ:DXPE opened at $79.14 on Thursday. The firm has a market capitalization of $1.24 billion, a PE ratio of 20.40 and a beta of 1.29. The stock’s fifty day moving average is $87.47 and its 200 day moving average is $78.32. DXP Enterprises has a fifty-two week low of $43.25 and a fifty-two week high of $107.06. 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 released its earnings results on Thursday, March 6th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.49. The firm had revenue of $470.91 million during the quarter, compared to analyst estimates of $447.00 million. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. On average, sell-side analysts anticipate that DXP Enterprises will post 4.07 earnings per share for the current year.

Insider Activity

In other DXP Enterprises news, Director Timothy P. Halter sold 5,000 shares of DXP Enterprises stock in a transaction on Monday, March 24th. The stock was sold at an average price of $89.75, for a total transaction of $448,750.00. Following the completion of the sale, the director now directly owns 45,925 shares of the company’s stock, valued at $4,121,768.75. The trade was a 9.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Paz Maestas sold 4,328 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $89.04, for a total value of $385,365.12. Following the completion of the sale, the chief marketing officer now owns 613,039 shares of the company’s stock, valued at $54,584,992.56. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,785 shares of company stock valued at $1,139,818. 22.40% of the stock is currently owned by company insiders.

Institutional Trading of DXP Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP purchased a new position in DXP Enterprises during the 4th quarter valued at about $67,901,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of DXP Enterprises by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company’s stock valued at $59,513,000 after purchasing an additional 38,900 shares in the last quarter. Northern Trust Corp increased its holdings in DXP Enterprises by 10.2% during the fourth quarter. Northern Trust Corp now owns 228,940 shares of the industrial products company’s stock valued at $18,915,000 after buying an additional 21,220 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in DXP Enterprises by 2,589.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,349 shares of the industrial products company’s stock worth $12,339,000 after buying an additional 143,795 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in DXP Enterprises by 26.5% during the fourth quarter. JPMorgan Chase & Co. now owns 123,986 shares of the industrial products company’s stock worth $10,244,000 after buying an additional 25,942 shares during the period. 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).