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 a $187 price target.
• DXP Enterprises exceeded quarterly expectations, reporting $1.76 in EPS versus the $1.59 estimate and revenue of $576.46 million versus $543 million expected.
• The stock opened at $174.46, down 1%, after trading between $84.04 and $208.00 over the past year; institutional investors own approximately 74.82% of outstanding shares.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also recently commented on the stock. Stephens increased their price target on shares of DXP Enterprises from $160.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Weiss Ratings downgraded shares of DXP Enterprises from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $187.00.

DXP Enterprises Trading Down 1.0%

NASDAQ DXPE opened at $174.46 on Friday. The company has a quick ratio of 2.58, a current ratio of 2.99 and a debt-to-equity ratio of 1.51. The stock's 50-day simple moving average is $182.21 and its two-hundred day simple moving average is $161.03. DXP Enterprises has a twelve month low of $84.04 and a twelve month high of $208.00. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 30.66 and a beta of 1.03.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.17. The firm had revenue of $576.46 million during the quarter, compared to analysts' expectations of $543.00 million. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.

Hedge Funds Weigh In On DXP Enterprises

A number of large investors have recently bought and sold shares of DXPE. Bank of New York Mellon Corp bought a new position in shares of DXP Enterprises during the second quarter valued at about $13,566,000. Diversify Wealth Management LLC purchased a new stake in shares of DXP Enterprises during the first quarter worth about $1,226,000. Odyssean LLC boosted its holdings in shares of DXP Enterprises by 96.3% during the second quarter. Odyssean LLC now owns 17,000 shares of the industrial products company's stock worth $2,869,000 after purchasing an additional 8,340 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of DXP Enterprises by 110.6% in the third quarter. SummerHaven Investment Management LLC now owns 17,271 shares of the industrial products company's stock worth $3,130,000 after purchasing an additional 9,070 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of DXP Enterprises by 139.8% in the first quarter. Quantinno Capital Management LP now owns 8,817 shares of the industrial products company's stock worth $1,232,000 after purchasing an additional 5,140 shares during the last quarter. 74.82% of the stock is owned by hedge funds and other institutional investors.

DXP Enterprises Company Profile

DXP Enterprises, Inc is an industrial distribution and services company headquartered in Houston, Texas. The company supplies maintenance, repair and operating products used by industrial, commercial and government customers, with an emphasis on rotating equipment, fluid handling and related industrial applications.

Its product offerings include pumps, valves, bearings, power-transmission components, hose and rubber products, industrial supplies, safety equipment and other maintenance products.

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