DXP Enterprises (NASDAQ:DXPE) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded DXP Enterprises to “Buy” from “Hold.” The stock has a “Moderate Buy” consensus rating, with three analysts recommending Buy and two recommending Hold, and a consensus price target of $187.
• DXP Enterprises exceeded quarterly expectations, reporting $1.76 in EPS versus the $1.59 consensus estimate and revenue of $576.46 million versus $543 million expected.
• Shares opened at $192.36, near their 52-week high of $208, while insiders own 22% of the company and institutional investors and hedge funds hold 74.82%.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Several other equities research analysts also recently issued reports on DXPE. Freedom Capital downgraded DXP Enterprises from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Stephens increased their target price on DXP Enterprises from $160.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday. Weiss Ratings raised shares of DXP Enterprises from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday. Finally, Zacks Research lowered shares of DXP Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $187.00.

DXP Enterprises Stock Down 3.0%

Shares of DXP Enterprises stock opened at $192.36 on Friday. The business has a 50-day moving average of $164.98 and a 200-day moving average of $152.16. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.99 and a quick ratio of 2.56. The company has a market capitalization of $2.98 billion, a PE ratio of 33.87 and a beta of 0.98. DXP Enterprises has a 1-year low of $84.04 and a 1-year high of $208.00.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.59 by $0.17. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.The business had revenue of $576.46 million for the quarter, compared to analysts' expectations of $543.00 million.

Insider Transactions at DXP Enterprises

In other DXP Enterprises news, Director Timothy P. Halter sold 6,842 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $141.59, for a total transaction of $968,758.78. Following the sale, the director owned 30,000 shares in the company, valued at $4,247,700. This represents a 18.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Paz Maestas sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total value of $1,643,700.00. Following the transaction, the chief marketing officer directly owned 590,262 shares in the company, valued at approximately $97,021,364.94. This represents a 1.67% decrease in their position. The disclosure for this sale is available in the SEC filing. 22.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DXP Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the company. KBC Group NV acquired a new position in DXP Enterprises in the first quarter worth $51,000. EverSource Wealth Advisors LLC raised its holdings in shares of 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 period. Clearstead Advisors LLC raised its holdings in shares of DXP Enterprises by 164.5% during the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company's stock worth $54,000 after purchasing an additional 306 shares during the period. State of Wyoming bought a new position in shares of DXP Enterprises in the 4th quarter worth about $152,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of DXP Enterprises in the 4th quarter worth about $154,000. 74.82% of the stock is owned by institutional investors and hedge funds.

DXP Enterprises Company Profile

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP's product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.

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