StockNews.com Upgrades DXP Enterprises (NASDAQ:DXPE) to Buy

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

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

DXP Enterprises Stock Up 4.0%

Shares of NASDAQ:DXPE traded up $3.49 during trading on Thursday, hitting $90.67. The stock had a trading volume of 19,051 shares, compared to its average volume of 160,398. The company has a quick ratio of 1.78, a current ratio of 2.22 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $1.42 billion, a PE ratio of 23.37 and a beta of 1.26. The firm's fifty day moving average is $83.03 and its 200 day moving average is $83.34. DXP Enterprises has a 12 month low of $43.25 and a 12 month high of $107.06.

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

Insider Buying and Selling at DXP Enterprises

In other DXP Enterprises news, CEO David R. Little bought 5,999 shares of DXP Enterprises stock in a transaction dated Wednesday, March 26th. The shares were bought at an average price of $82.70 per share, with a total value of $496,117.30. Following the purchase, the chief executive officer now owns 1,257,593 shares of the company's stock, valued at $104,002,941.10. This trade represents a 0.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Timothy P. Halter sold 5,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $89.75, for a total transaction of $448,750.00. Following the sale, the director now directly owns 45,925 shares of the company's stock, valued at $4,121,768.75. This represents a 9.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,785 shares of company stock worth $1,139,818 over the last ninety days. Corporate insiders own 22.70% of the company's stock.

Institutional Investors Weigh In On DXP Enterprises

Several hedge funds have recently modified their holdings of DXPE. Global Retirement Partners LLC lifted its stake 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 purchasing an additional 333 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of DXP Enterprises by 3,150.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company's stock valued at $43,000 after buying an additional 504 shares in the last quarter. CWM LLC grew its holdings in shares of DXP Enterprises by 32.2% during the first quarter. CWM LLC now owns 1,487 shares of the industrial products company's stock valued at $122,000 after buying an additional 362 shares during the last quarter. Lazard Asset Management LLC bought a new position in DXP Enterprises during the 4th quarter valued at $159,000. Finally, Hsbc Holdings PLC purchased a new position in shares of DXP Enterprises in the fourth quarter worth about $208,000. 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).