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

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

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

DXP Enterprises Price Performance

Shares of NASDAQ:DXPE opened at $88.99 on Friday. The company has a market cap of $1.40 billion, a PE ratio of 22.94 and a beta of 1.26. The firm has a 50-day simple moving average of $83.72 and a 200 day simple moving average of $83.69. DXP Enterprises has a fifty-two week low of $43.25 and a fifty-two week high of $107.06. The company has a quick ratio of 1.78, a current ratio of 2.22 and a debt-to-equity ratio of 1.29.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.06. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. The business had revenue of $476.57 million for the quarter, compared to analysts' expectations of $477.00 million. On average, sell-side analysts anticipate that DXP Enterprises will post 4.07 EPS for the current year.

Insider Transactions at DXP Enterprises

In other DXP Enterprises news, CFO Kent Nee Hung Yee sold 3,457 shares of the company'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 completion of the sale, the chief financial officer now owns 68,849 shares of the company's stock, valued at $6,088,317.07. This represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David R. Little purchased 5,999 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were purchased 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 directly owns 1,257,593 shares of the company's stock, valued at approximately $104,002,941.10. This trade represents a 0.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 12,785 shares of company stock valued at $1,139,818 in the last three months. 22.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DXP Enterprises

Several large investors have recently added to or reduced their stakes in DXPE. SummerHaven Investment Management LLC lifted its position in shares of DXP Enterprises by 0.8% during the first quarter. SummerHaven Investment Management LLC now owns 17,413 shares of the industrial products company's stock worth $1,432,000 after purchasing an additional 142 shares in the last quarter. Algert Global LLC lifted its position in DXP Enterprises by 2.6% in the 1st quarter. Algert Global LLC now owns 11,255 shares of the industrial products company's stock valued at $926,000 after acquiring an additional 280 shares in the last quarter. CastleKnight Management LP lifted its stake in DXP Enterprises by 0.3% in the 4th quarter. CastleKnight Management LP now owns 117,300 shares of the industrial products company's stock valued at $9,691,000 after acquiring an additional 300 shares in the last quarter. Sterling Capital Management LLC lifted its position in DXP Enterprises by 4.4% during the 4th quarter. Sterling Capital Management LLC now owns 7,656 shares of the industrial products company's stock worth $633,000 after buying an additional 326 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of DXP Enterprises by 2,220.0% in the 4th quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company's stock valued at $29,000 after buying an additional 333 shares during the last quarter. Institutional investors and hedge funds own 74.82% of the company's stock.

DXP Enterprises Company Profile

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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