DXP Enterprises (NASDAQ:DXPE) Announces Earnings Results

DXP Enterprises (NASDAQ:DXPE) announced its quarterly earnings results on Wednesday. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.91 by $0.48, Zacks reports. DXP Enterprises had a net margin of 4.45% and a return on equity of 19.62%.

DXP Enterprises Price Performance

Shares of DXP Enterprises stock traded down $5.37 during trading hours on Wednesday, reaching $154.00. The company’s stock had a trading volume of 178,678 shares, compared to its average volume of 124,983. The firm has a 50 day moving average price of $127.28 and a 200-day moving average price of $117.87. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.77 and a quick ratio of 2.36. The stock has a market cap of $2.41 billion, a P/E ratio of 29.17 and a beta of 1.00. DXP Enterprises has a one year low of $67.68 and a one year high of $161.11.

Hedge Funds Weigh In On DXP Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Concentric Capital Strategies LP bought a new stake in DXP Enterprises in the third quarter worth $1,200,000. Franklin Resources Inc. raised its stake in shares of DXP Enterprises by 2.0% in the third quarter. Franklin Resources Inc. now owns 9,228 shares of the industrial products company’s stock valued at $1,099,000 after acquiring an additional 185 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of DXP Enterprises in the 2nd quarter worth about $968,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of DXP Enterprises by 0.9% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 10,857 shares of the industrial products company’s stock worth $950,000 after acquiring an additional 100 shares during the last quarter. Finally, Evolve Private Wealth LLC purchased a new position in shares of DXP Enterprises during the 4th quarter worth about $554,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.