DXP Enterprises (NASDAQ:DXPE) Downgraded to Hold Rating by StockNews.com

DXP Enterprises (NASDAQ:DXPE - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

Separately, Stephens raised their price objective on shares of DXP Enterprises from $75.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, March 10th.

DXP Enterprises Stock Performance

Shares of DXPE traded down $1.91 during trading hours on Friday, reaching $85.83. 70,707 shares of the company traded hands, compared to its average volume of 159,359. The stock's fifty day moving average is $84.10 and its 200 day moving average is $84.76. The stock has a market cap of $1.35 billion, a P/E ratio of 22.12 and a beta of 1.26. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22. DXP Enterprises has a 1-year low of $43.25 and a 1-year high of $107.06.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.06. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. The firm had revenue of $476.57 million during the quarter, compared to analyst estimates of $477.00 million. Equities research analysts anticipate that DXP Enterprises will post 4.07 earnings per share for the current fiscal year.

Insider Transactions at DXP Enterprises

In other news, CEO David R. Little acquired 5,999 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was bought at an average price of $82.70 per share, with a total value of $496,117.30. Following the completion of the acquisition, the chief executive officer now owns 1,257,593 shares in the company, valued at approximately $104,002,941.10. This represents a 0.48% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kent Nee Hung Yee sold 3,457 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $88.43, for a total transaction of $305,702.51. Following the sale, the chief financial officer now directly owns 68,849 shares of the company's stock, valued at approximately $6,088,317.07. The trade was a 4.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,785 shares of company stock valued at $1,139,818. Corporate insiders own 22.40% of the company's stock.

Institutional Trading of DXP Enterprises

Several hedge funds have recently modified their holdings of DXPE. Wellington Management Group LLP boosted its stake in DXP Enterprises by 13.3% in the first quarter. Wellington Management Group LLP now owns 931,004 shares of the industrial products company's stock valued at $76,584,000 after acquiring an additional 109,151 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in DXP Enterprises by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company's stock valued at $59,513,000 after acquiring an additional 38,900 shares during the last quarter. Invesco Ltd. boosted its stake in DXP Enterprises by 22.6% in the first quarter. Invesco Ltd. now owns 280,430 shares of the industrial products company's stock valued at $23,068,000 after acquiring an additional 51,664 shares during the last quarter. Northern Trust Corp boosted its stake in DXP Enterprises by 10.2% in the fourth quarter. Northern Trust Corp now owns 228,940 shares of the industrial products company's stock valued at $18,915,000 after acquiring an additional 21,220 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in DXP Enterprises by 2,589.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,349 shares of the industrial products company's stock valued at $12,339,000 after acquiring an additional 143,795 shares during the last quarter. 74.82% of the stock is owned by 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).