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

Key Points

• Wall Street Zen upgraded DXP Enterprises from “buy” to “strong-buy,” while the broader analyst consensus remains “Moderate Buy” with a $187 price target.
• DXPE recently exceeded quarterly expectations, reporting $1.76 in EPS versus a $1.59 estimate and revenue of $576.46 million against expectations of $543 million.
• The stock opened at $175.79, down 1.1%, with a $2.73 billion market capitalization; institutional investors own approximately 74.82% of outstanding shares.

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

Several other analysts have also issued reports on DXPE. Weiss Ratings upgraded shares of DXP Enterprises from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, September 29th. 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 research report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, DXP Enterprises currently has an average rating of "Moderate Buy" and a consensus target price of $187.00.

DXP Enterprises Trading Down 1.1%

Shares of NASDAQ:DXPE opened at $175.79 on Friday. The stock's 50-day simple moving average is $187.14 and its two-hundred day simple moving average is $169.09. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 30.91 and a beta of 1.03. DXP Enterprises has a 52-week low of $84.04 and a 52-week high of $208.00. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.58 and a current ratio of 2.99.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DXPE. GAMMA Investing LLC boosted its position in DXP Enterprises by 6.3% in the third quarter. GAMMA Investing LLC now owns 977 shares of the industrial products company's stock valued at $177,000 after buying an additional 58 shares during the last quarter. WINTON GROUP Ltd grew its holdings in DXP Enterprises by 2.9% during the second quarter. WINTON GROUP Ltd now owns 6,786 shares of the industrial products company's stock worth $1,145,000 after acquiring an additional 190 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in DXP Enterprises during the second quarter worth about $33,000. Nykredit A S acquired a new stake in DXP Enterprises during the second quarter worth about $36,000. Finally, USA Financial Formulas purchased a new position in DXP Enterprises during the third quarter valued at approximately $39,000. 74.82% of the stock is owned by hedge funds and other institutional investors.

About DXP Enterprises

DXP Enterprises, Inc is an industrial distribution and services company headquartered in Houston, Texas. The company supplies products and technical solutions used to maintain, repair and operate industrial facilities, with a focus on fluid-handling equipment and other critical components.

Its product offerings include pumps, valves, motors, bearings, power-transmission equipment, hoses, gaskets, safety products and other industrial supplies. DXP also provides engineered pumping systems, equipment repair, field services, technical support and supply-chain management solutions designed to help customers improve operating efficiency and reduce equipment downtime.

DXP serves customers across a range of industries, including energy, petrochemical, mining, food and beverage, water and wastewater, manufacturing and general industrial markets.

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