DXP Enterprises (NASDAQ:DXPE) Stock Rating Lowered by Zacks Research

DXP Enterprises (NASDAQ:DXPE) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts also recently commented on the company. Freedom Capital downgraded DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday. Wall Street Zen raised DXP Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Finally, Loop Capital set a $154.00 price target on shares of DXP Enterprises in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $154.00.

DXP Enterprises Trading Down 3.6%

DXP Enterprises stock opened at $143.79 on Monday. The company’s fifty day moving average price is $147.92 and its two-hundred day moving average price is $128.25. DXP Enterprises has a one year low of $75.58 and a one year high of $183.91. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.98 and a quick ratio of 2.56. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 26.88 and a beta of 1.07.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Thursday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.12). The company had revenue of $521.66 million for the quarter, compared to the consensus estimate of $531.00 million. DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%. On average, analysts forecast that DXP Enterprises will post 6.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joseph R. Mannes sold 1,500 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $137.95, for a total transaction of $206,925.00. Following the completion of the sale, the director directly owned 13,964 shares of the company’s stock, valued at $1,926,333.80. This trade represents a 9.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV bought a new stake in DXP Enterprises during the 1st quarter worth about $51,000. EverSource Wealth Advisors LLC raised its stake in shares of DXP Enterprises by 3,507.7% in the second quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 456 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new position in shares of DXP Enterprises during the third quarter worth approximately $58,000. Clearstead Advisors LLC lifted its position in shares of DXP Enterprises by 164.5% during the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 306 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of DXP Enterprises by 35.4% during the fourth quarter. GAMMA Investing LLC now owns 860 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 225 shares during the last quarter. Institutional investors and hedge funds 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.