Wall Street Zen Upgrades DXP Enterprises (NASDAQ:DXPE) to Strong-Buy

DXP Enterprises (NASDAQ:DXPE) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday, Wall Street Zen reports.

DXPE has been the subject of a number of other reports. Zacks Research downgraded shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings lowered shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 20th. Stephens upped their price target on shares of DXP Enterprises from $160.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Freedom Capital downgraded DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Three research 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

DXP Enterprises Price Performance

Shares of DXPE opened at $184.00 on Friday. The company has a current ratio of 2.99, a quick ratio of 2.58 and a debt-to-equity ratio of 1.51. The stock’s 50 day moving average is $175.69 and its two-hundred day moving average is $159.84. DXP Enterprises has a twelve month low of $84.04 and a twelve month high of $208.00. The firm has a market capitalization of $2.86 billion, a PE ratio of 32.39 and a beta of 1.02.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.17. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.The firm had revenue of $576.46 million for the quarter, compared to the consensus estimate of $543.00 million.

Insider Activity at DXP Enterprises

In related news, CMO Paz Maestas sold 10,000 shares of the firm’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 sale, the chief marketing officer directly owned 590,262 shares of the company’s stock, valued at approximately $97,021,364.94. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DXP Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of DXPE. Diversify Wealth Management LLC purchased a new stake in shares of DXP Enterprises during the 1st quarter valued at about $1,226,000. Quantinno Capital Management LP raised its stake in shares of DXP Enterprises by 139.8% during the first quarter. Quantinno Capital Management LP now owns 8,817 shares of the industrial products company’s stock valued at $1,232,000 after purchasing an additional 5,140 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of DXP Enterprises by 12,369,100.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company’s stock worth $40,785,000 after purchasing an additional 371,073 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of DXP Enterprises during the second quarter worth $13,566,000. Finally, Odyssean LLC boosted its stake in shares of DXP Enterprises by 96.3% in the second quarter. Odyssean LLC now owns 17,000 shares of the industrial products company’s stock valued at $2,869,000 after purchasing an additional 8,340 shares during the period. 74.82% of the stock is owned by institutional investors and hedge funds.

About DXP Enterprises

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.