DXP Enterprises (NASDAQ:DXPE) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• Wall Street Zen upgraded DXP Enterprises to “strong-buy” from “buy,” while the broader analyst consensus remains “Moderate Buy,” with three Buy ratings and two Holds.
• DXP Enterprises reported quarterly EPS of $1.76, beating estimates of $1.59, while revenue of $576.46 million exceeded the $543 million consensus forecast.
• Shares opened at $184, up 1.5%, near the company’s 12-month high of $208; institutional investors own approximately 74.82% of the stock, while insiders own 22%.

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

A number of other analysts have also issued reports on DXPE. Freedom Capital lowered DXP Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Zacks Research lowered DXP Enterprises from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Weiss Ratings cut DXP Enterprises from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 20th. Finally, Stephens increased their price target on shares of DXP Enterprises from $160.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Three 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, the stock has an average rating of "Moderate Buy" and an average price target of $187.00.

DXP Enterprises Trading Up 1.5%

Shares of DXPE stock opened at $184.00 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 firm has a market cap of $2.86 billion, a P/E ratio of 32.39 and a beta of 1.02. The company has a 50 day moving average of $175.69 and a 200-day moving average of $159.76. DXP Enterprises has a 12-month low of $84.04 and a 12-month high of $208.00.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.17. The company had revenue of $576.46 million during 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%.

Insider Buying and Selling at DXP Enterprises

In related news, CMO Paz Maestas sold 10,000 shares of DXP Enterprises stock in a transaction 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 transaction, the chief marketing officer directly owned 590,262 shares of the company's stock, valued at $97,021,364.94. The trade was a 1.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 22.00% of the company's stock.

Institutional Investors Weigh In On DXP Enterprises

Large investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its holdings in DXP Enterprises by 16,332.2% in the second quarter. California State Teachers Retirement System now owns 2,567,210 shares of the industrial products company's stock worth $433,191,000 after buying an additional 2,551,587 shares during the period. Wasatch Advisors LP grew its holdings in shares of DXP Enterprises by 480.2% during the 4th quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company's stock worth $82,859,000 after acquiring an additional 624,638 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of DXP Enterprises by 12,369,100.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company's stock worth $40,785,000 after acquiring an additional 371,073 shares during the period. Wellington Management Group LLP raised its position in shares of DXP Enterprises by 12.7% in the 4th quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company's stock worth $133,867,000 after acquiring an additional 137,577 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of DXP Enterprises by 661.5% in the 1st 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. Institutional investors own 74.82% of the company's stock.

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.

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