DXP Enterprises Inc (NASDAQ:DXPE) Short Interest Update

DXP Enterprises Inc (NASDAQ:DXPE) saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 456,300 shares, a drop of 7.5% from the June 30th total of 493,400 shares. Based on an average daily volume of 79,200 shares, the days-to-cover ratio is presently 5.8 days. Approximately 2.9% of the company’s shares are short sold.

DXPE traded down $0.49 during trading on Thursday, hitting $31.62. The company had a trading volume of 56,300 shares, compared to its average volume of 80,656. The company has a market capitalization of $564.22 million, a PE ratio of 16.30, a PEG ratio of 0.77 and a beta of 2.65. DXP Enterprises has a one year low of $26.95 and a one year high of $49.15. The firm’s 50-day moving average price is $33.95 and its 200 day moving average price is $36.69. The company has a quick ratio of 1.75, a current ratio of 2.56 and a debt-to-equity ratio of 0.87.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The business had revenue of $333.30 million for the quarter, compared to analysts’ expectations of $331.07 million. DXP Enterprises had a net margin of 3.19% and a return on equity of 12.86%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 EPS. Sell-side analysts forecast that DXP Enterprises will post 2.39 earnings per share for the current year.

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of DXP Enterprises in a research report on Thursday, April 25th. They set a “hold” rating and a $47.00 price target on the stock. TheStreet cut shares of DXP Enterprises from a “b” rating to a “c+” rating in a research report on Wednesday, May 15th. BidaskClub cut shares of DXP Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday. Stephens set a $47.00 price target on shares of DXP Enterprises and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, ValuEngine cut shares of DXP Enterprises from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $47.00.

A number of institutional investors and hedge funds have recently bought and sold shares of DXPE. Advisor Group Inc. lifted its stake in shares of DXP Enterprises by 62.2% in the fourth quarter. Advisor Group Inc. now owns 1,552 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 595 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of DXP Enterprises by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 181,556 shares of the industrial products company’s stock worth $5,054,000 after acquiring an additional 8,688 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of DXP Enterprises by 1.6% in the fourth quarter. Principal Financial Group Inc. now owns 129,805 shares of the industrial products company’s stock worth $3,614,000 after acquiring an additional 2,051 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of DXP Enterprises by 189.0% in the fourth quarter. Bank of America Corp DE now owns 22,929 shares of the industrial products company’s stock worth $638,000 after acquiring an additional 14,996 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its stake in shares of DXP Enterprises by 396.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,378 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 4,294 shares in the last quarter. 79.37% of the stock is currently owned by institutional investors and hedge funds.

DXP Enterprises Company Profile

DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates in three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.

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