DXP Enterprises (NASDAQ:DXPE) Reaches New 52-Week High – Time to Buy?

DXP Enterprises, Inc. (NASDAQ:DXPE) shares reached a new 52-week high during trading on Thursday . The company traded as high as $132.00 and last traded at $132.29, with a volume of 41250 shares traded. The stock had previously closed at $127.74.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DXPE shares. Wall Street Zen cut DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “buy (b-)” rating on shares of DXP Enterprises in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, DXP Enterprises currently has an average rating of “Buy” and a consensus target price of $95.00.

DXP Enterprises Stock Up 3.4%

The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 25.02 and a beta of 0.99. The company has a quick ratio of 2.36, a current ratio of 2.77 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average price of $105.31 and a 200-day moving average price of $111.28.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Thursday, November 6th. The industrial products company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.11). DXP Enterprises had a return on equity of 19.62% and a net margin of 4.45%.The company had revenue of $513.72 million during the quarter, compared to analysts’ expectations of $499.00 million. As a group, equities analysts anticipate that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DXP Enterprises

Several hedge funds have recently made changes to their positions in DXPE. Wasatch Advisors LP purchased a new position in DXP Enterprises during the 3rd quarter worth approximately $15,487,000. Laurel Wealth Advisors LLC grew its holdings in shares of DXP Enterprises by 8,665.0% during the second quarter. Laurel Wealth Advisors LLC now owns 122,710 shares of the industrial products company’s stock valued at $10,756,000 after buying an additional 121,310 shares in the last quarter. Millennium Management LLC raised its position in DXP Enterprises by 661.5% during the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock valued at $10,608,000 after buying an additional 112,021 shares during the period. American Century Companies Inc. raised its position in DXP Enterprises by 24.5% during the second quarter. American Century Companies Inc. now owns 562,210 shares of the industrial products company’s stock valued at $49,278,000 after buying an additional 110,482 shares during the period. Finally, Invesco Ltd. lifted its stake in DXP Enterprises by 41.6% in the 3rd quarter. Invesco Ltd. now owns 250,790 shares of the industrial products company’s stock worth $29,862,000 after acquiring an additional 73,653 shares in the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

DXP Enterprises Company Profile

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.