DXP Enterprises (NASDAQ:DXPE) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded DXP Enterprises from “strong-buy” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $187.
• DXP reported quarterly EPS of $1.76, beating estimates of $1.59, and revenue of $576.46 million versus expectations of $543 million.
• DXPE opened at $187.09, with a $2.90 billion market capitalization; institutional investors own approximately 74.82% of the company’s shares.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of DXP Enterprises from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 3rd. Stephens lifted their price objective on shares of DXP Enterprises from $160.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, DXP Enterprises has a consensus rating of "Moderate Buy" and an average target price of $187.00.

DXP Enterprises Stock Performance

NASDAQ:DXPE opened at $187.09 on Friday. The stock has a 50 day simple moving average of $178.01 and a 200 day simple moving average of $161.08. The stock has a market cap of $2.90 billion, a P/E ratio of 32.94 and a beta of 1.02. DXP Enterprises has a 1-year low of $84.04 and a 1-year high of $208.00. The company has a current ratio of 2.99, a quick ratio of 2.58 and a debt-to-equity ratio of 1.51.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $576.46 million for the quarter, compared to analyst estimates of $543.00 million. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.

Institutional Trading of DXP Enterprises

Several institutional investors and hedge funds have recently modified their holdings of DXPE. Royal Bank of Canada grew its position in DXP Enterprises by 29.4% in the first quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company's stock valued at $417,000 after acquiring an additional 1,153 shares during the last quarter. Millennium Management LLC raised its stake in DXP Enterprises by 661.5% during the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company's stock worth $10,608,000 after acquiring an additional 112,021 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of DXP Enterprises by 433.8% in the first quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company's stock worth $4,850,000 after acquiring an additional 47,909 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of DXP Enterprises by 9.5% in the second quarter. JPMorgan Chase & Co. now owns 67,018 shares of the industrial products company's stock worth $5,874,000 after acquiring an additional 5,820 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of DXP Enterprises by 19.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,699 shares of the industrial products company's stock valued at $412,000 after purchasing an additional 761 shares in the last quarter. 74.82% of the stock is currently owned by institutional investors.

DXP Enterprises Company Profile

DXP Enterprises, Inc is an industrial distribution and services company that provides products and technical support to customers in a range of manufacturing, energy, mining, municipal water and wastewater, and other industrial markets. The company helps customers maintain and improve plant operations by supplying equipment, replacement parts, and related services.

Its offerings include rotating equipment such as pumps, compressors, and motors; power-transmission products; industrial bearings; hose and fluid-handling products; safety supplies; and other maintenance, repair, operating and production (MROP) products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.