DXP Enterprises, Inc. (NASDAQ:DXPE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) have earned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $154.00.

DXPE has been the topic of several research reports. Wall Street Zen downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Zacks Research cut shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Stephens reiterated an “overweight” rating on shares of DXP Enterprises in a research note on Friday. Weiss Ratings lowered DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Finally, Freedom Capital cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th.

Insider Buying and Selling

In related news, Director Timothy P. Halter sold 6,842 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $141.59, for a total transaction of $968,758.78. Following the completion of the sale, the director directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Paz Maestas sold 10,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $164.37, for a total transaction of $1,643,700.00. Following the completion of the transaction, the chief marketing officer directly owned 590,262 shares in the company, valued at $97,021,364.94. This represents a 1.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 22.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in 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 valued at $41,000 after purchasing an additional 456 shares during the period. KBC Group NV purchased a new position in shares of DXP Enterprises during the 1st quarter worth approximately $51,000. Clearstead Advisors LLC raised its stake in shares of DXP Enterprises by 164.5% during the 4th quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock worth $54,000 after buying an additional 306 shares in the last quarter. State of Wyoming acquired a new stake in shares of DXP Enterprises in the 4th quarter valued at approximately $152,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of DXP Enterprises in the 4th quarter valued at approximately $154,000. 74.82% of the stock is currently owned by institutional investors and hedge funds.

DXP Enterprises Price Performance

DXPE stock opened at $198.21 on Friday. 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 company has a market capitalization of $3.07 billion, a P/E ratio of 34.90 and a beta of 0.98. The business has a 50 day simple moving average of $164.04 and a 200-day simple moving average of $151.88. DXP Enterprises has a twelve month low of $84.04 and a twelve month high of $205.72.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Wednesday, August 5th. The industrial products company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.17. DXP Enterprises had a net margin of 4.35% and a return on equity of 18.89%. The business had revenue of $576.46 million for the quarter, compared to analysts’ expectations of $543.00 million.

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.