DXP Enterprises (NASDAQ:DXPE) Given Buy (B) Rating at Weiss Ratings

Key Points

• DXP Enterprises received a "buy (b)" rating from Weiss Ratings, maintaining a positive outlook on the stock after it traded up to $124.42.
• Analysts have mixed ratings on the company, with three giving it a Buy rating; the stock currently has an average target price of $95.00.
• Institutional investors hold approximately 74.82% of the company's stock, indicating robust interest and investment in DXP Enterprises.

DXP Enterprises (NASDAQ:DXPE - Get Free Report)'s stock had its "buy (b)" rating reiterated by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other analysts have also issued reports on DXPE. Singular Research upgraded shares of DXP Enterprises to a "moderate buy" rating in a research report on Tuesday, September 9th. Wall Street Zen lowered shares of DXP Enterprises from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 13th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $95.00.

DXP Enterprises Price Performance

Shares of DXPE traded up $5.42 during mid-day trading on Wednesday, reaching $124.42. 181,041 shares of the company's stock were exchanged, compared to its average volume of 187,332. The company has a quick ratio of 2.33, a current ratio of 2.79 and a debt-to-equity ratio of 1.33. The company has a 50-day simple moving average of $119.22 and a two-hundred day simple moving average of $97.88. DXP Enterprises has a 52-week low of $48.45 and a 52-week high of $130.97. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 23.74 and a beta of 1.16.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.04. DXP Enterprises had a net margin of 4.52% and a return on equity of 20.94%. The business had revenue of $498.68 million during the quarter, compared to analysts' expectations of $499.00 million. On average, sell-side analysts predict that DXP Enterprises will post 4.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP John Jay Jeffery sold 2,000 shares of DXP Enterprises stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $125.43, for a total transaction of $250,860.00. Following the transaction, the senior vice president owned 20,008 shares in the company, valued at approximately $2,509,603.44. The trade was a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher T. Gregory sold 5,000 shares of DXP Enterprises stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $122.00, for a total transaction of $610,000.00. Following the transaction, the insider owned 24,436 shares in the company, valued at $2,981,192. The trade was a 16.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,316 shares of company stock worth $4,960,704 over the last 90 days. Company insiders own 22.70% of the company's stock.

Hedge Funds Weigh In On DXP Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in DXPE. EverSource Wealth Advisors LLC increased its stake in DXP Enterprises by 3,507.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company's stock worth $41,000 after buying an additional 456 shares during the period. GAMMA Investing LLC increased its stake in DXP Enterprises by 24.3% during the 2nd quarter. GAMMA Investing LLC now owns 634 shares of the industrial products company's stock worth $56,000 after buying an additional 124 shares during the period. CWM LLC increased its stake in DXP Enterprises by 32.2% during the 1st quarter. CWM LLC now owns 1,487 shares of the industrial products company's stock worth $122,000 after buying an additional 362 shares during the period. Tower Research Capital LLC TRC increased its stake in DXP Enterprises by 498.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,802 shares of the industrial products company's stock worth $158,000 after buying an additional 1,501 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in DXP Enterprises during the 1st quarter worth $210,000. Institutional investors and hedge funds own 74.82% of the company's stock.

About DXP Enterprises

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).

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