DXP Enterprises (NASDAQ:DXPE) Reaches New 52-Week High After Better-Than-Expected Earnings

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $186.00 and last traded at $186.1020, with a volume of 69455 shares changing hands. The stock had previously closed at $168.37.

The industrial products company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.17. DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%.The company had revenue of $576.46 million for the quarter, compared to analyst estimates of $543.00 million.

Analyst Ratings Changes

Several research firms have recently issued reports on DXPE. Weiss Ratings lowered shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Wall Street Zen cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Freedom Capital downgraded DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Zacks Research lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.00.

Insider Transactions at DXP Enterprises

In other DXP Enterprises news, Director Timothy P. Halter sold 6,842 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $141.59, for a total transaction of $968,758.78. Following the completion of the transaction, the director owned 30,000 shares of the company’s stock, valued at $4,247,700. This trade represents a 18.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Paz Maestas sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $164.37, for a total value of $1,643,700.00. Following the completion of the transaction, the chief marketing officer directly owned 590,262 shares of the company’s stock, valued at $97,021,364.94. This trade represents a 1.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 22.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. KBC Group NV purchased a new stake in shares of DXP Enterprises in the first quarter valued at approximately $51,000. EverSource Wealth Advisors LLC grew its holdings in shares of DXP Enterprises by 3,507.7% in the 2nd 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 period. Clearstead Advisors LLC raised its holdings in 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 during the last quarter. State of Wyoming acquired a new stake in DXP Enterprises in the fourth quarter valued at $152,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of DXP Enterprises during the 4th quarter worth $154,000. 74.82% of the stock is owned by hedge funds and other institutional investors.

DXP Enterprises Stock Performance

The company has a current ratio of 2.98, a quick ratio of 2.56 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 35.00 and a beta of 0.98. The stock’s 50 day moving average is $163.05 and its 200 day moving average is $151.36.

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.