DXP Enterprises (NASDAQ:DXPE) Hits New 52-Week High - Here's Why

Key Points

• DXP Enterprises reached a new 52-week high, trading at $130.16, after previously closing at $127.63, indicating strong market performance.
• Averaging a Buy rating from analysts, DXP Enterprises has a target price of $95.00, reflecting positive investor sentiment.
• Insider trading activity shows notable sales, with executives selling a combined total of 41,316 shares over the last quarter, raising questions about future stock performance.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $130.41 and last traded at $130.16, with a volume of 52313 shares. The stock had previously closed at $127.63.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on DXPE shares. Weiss Ratings reissued a "buy (b)" rating on shares of DXP Enterprises in a research note on Saturday, September 27th. Singular Research raised shares of DXP Enterprises to a "moderate buy" rating in a research note on Tuesday, September 9th. Finally, Wall Street Zen downgraded shares of DXP Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, DXP Enterprises has an average rating of "Buy" and an average target price of $95.00.

DXP Enterprises Trading Down 0.5%

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 firm's 50-day moving average price is $118.48 and its 200 day moving average price is $97.14. The company has a market capitalization of $1.99 billion, a P/E ratio of 24.23 and a beta of 1.16.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.39 by $0.04. The company had revenue of $498.68 million during the quarter, compared to the consensus estimate of $499.00 million. DXP Enterprises had a net margin of 4.52% and a return on equity of 20.94%. As a group, equities research analysts predict that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Insider Activity at DXP Enterprises

In other news, CMO Paz Maestas sold 5,000 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $120.11, for a total transaction of $600,550.00. Following the completion of the sale, the chief marketing officer directly owned 600,737 shares of the company's stock, valued at $72,154,521.07. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Nicholas Little sold 20,440 shares of the business's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $118.53, for a total transaction of $2,422,753.20. Following the sale, the chief operating officer directly owned 791,888 shares of the company's stock, valued at approximately $93,862,484.64. The trade was a 2.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,316 shares of company stock valued at $4,960,704 over the last quarter. 22.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in DXP Enterprises by 3,507.7% during the second quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company's stock worth $41,000 after purchasing an additional 456 shares during the last quarter. GAMMA Investing LLC boosted its holdings in DXP Enterprises by 24.3% during the second quarter. GAMMA Investing LLC now owns 634 shares of the industrial products company's stock worth $56,000 after purchasing an additional 124 shares during the last quarter. CWM LLC boosted its holdings in DXP Enterprises by 32.2% during the first quarter. CWM LLC now owns 1,487 shares of the industrial products company's stock worth $122,000 after purchasing an additional 362 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in DXP Enterprises by 498.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,802 shares of the industrial products company's stock worth $158,000 after purchasing an additional 1,501 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in DXP Enterprises during the first quarter worth about $210,000. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

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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