DXP Enterprises (NASDAQ:DXPE) Stock Rating Lowered by Wall Street Zen

Key Points

• DXP Enterprises' rating was downgraded from "strong-buy" to "buy" by Wall Street Zen, reflecting a shift in analysts' confidence.
• Despite the downgrade, the company has a consensus price target of $95.00 and reported earnings of $1.43 per share, exceeding estimates.
• Insiders have been selling shares recently, with a notable decrease in ownership from the CMO and a director, indicating potential concerns or strategic shifts within the company.

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

Separately, Singular Research raised DXP Enterprises to a "moderate buy" rating in a report on Tuesday, September 9th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $95.00.

DXP Enterprises Stock Performance

NASDAQ DXPE traded up $2.68 on Friday, reaching $118.23. The stock had a trading volume of 175,693 shares, compared to its average volume of 143,098. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.79 and a quick ratio of 2.33. The firm has a fifty day moving average of $113.83 and a two-hundred day moving average of $94.20. DXP Enterprises has a 1-year low of $48.45 and a 1-year high of $129.56. The company has a market cap of $1.86 billion, a P/E ratio of 22.56 and a beta of 1.24.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.04. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%.The firm had revenue of $498.68 million for the quarter, compared to analyst estimates of $499.00 million. On average, equities research analysts anticipate that DXP Enterprises will post 4.07 EPS for the current year.

Insiders Place Their Bets

In other DXP Enterprises news, CMO Paz Maestas sold 5,000 shares of DXP Enterprises stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $120.11, for a total value of $600,550.00. Following the completion of the sale, the chief marketing officer directly owned 600,737 shares in the company, valued at approximately $72,154,521.07. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher T. Gregory sold 5,000 shares of DXP Enterprises stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $122.00, for a total value of $610,000.00. Following the completion of the sale, the insider owned 24,436 shares of the company's stock, valued at approximately $2,981,192. The trade was a 16.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,337 shares of company stock valued at $6,194,246 in the last 90 days. Company insiders own 22.70% of the company's stock.

Institutional Investors Weigh In On DXP Enterprises

A number of hedge funds have recently added to or reduced their stakes in DXPE. CANADA LIFE ASSURANCE Co lifted its position in DXP Enterprises by 0.9% during the second quarter. CANADA LIFE ASSURANCE Co now owns 10,857 shares of the industrial products company's stock valued at $950,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC lifted its position in DXP Enterprises by 24.3% during the second quarter. GAMMA Investing LLC now owns 634 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 124 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in 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 valued at $1,432,000 after purchasing an additional 142 shares in the last quarter. Rezny Wealth Management Inc. lifted its position in DXP Enterprises by 1.2% during the second quarter. Rezny Wealth Management Inc. now owns 17,803 shares of the industrial products company's stock valued at $1,560,000 after purchasing an additional 215 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in DXP Enterprises by 7.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,264 shares of the industrial products company's stock valued at $286,000 after purchasing an additional 222 shares in the last quarter. 74.82% of the stock is currently owned by institutional investors.

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).