DXP Enterprises (NASDAQ:DXPE) Rating Lowered to Buy at 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 investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday.

Separately, Singular Research raised shares of DXP Enterprises to a "moderate buy" rating in a report on Tuesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $95.00.

DXP Enterprises Stock Performance

DXP Enterprises stock opened at $118.06 on Friday. DXP Enterprises has a 12 month low of $48.45 and a 12 month high of $129.56. The company has a market cap of $1.85 billion, a PE ratio of 22.53 and a beta of 1.24. 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 company has a fifty day moving average price of $111.79 and a two-hundred day moving average price of $93.44.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.04. DXP Enterprises had a net margin of 4.52% and a return on equity of 20.94%. The company had revenue of $498.68 million during the quarter, compared to the consensus estimate of $499.00 million. Research analysts expect that DXP Enterprises will post 4.07 earnings per share for the current year.

Insider Buying and Selling at DXP Enterprises

In related news, CMO Paz Maestas sold 5,000 shares of DXP Enterprises stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $120.11, for a total transaction of $600,550.00. Following the sale, the chief marketing officer directly owned 600,737 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen Hoffman sold 2,399 shares of DXP Enterprises stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $125.00, for a total transaction of $299,875.00. Following the sale, the director owned 4,787 shares in the company, valued at approximately $598,375. This represents a 33.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,337 shares of company stock valued at $6,431,516. 22.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DXP Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of DXPE. Bank of America Corp DE raised its stake in shares of DXP Enterprises by 26.6% during the fourth quarter. Bank of America Corp DE now owns 22,695 shares of the industrial products company's stock valued at $1,875,000 after purchasing an additional 4,762 shares in the last quarter. Deutsche Bank AG raised its position in DXP Enterprises by 9.6% in the fourth quarter. Deutsche Bank AG now owns 42,127 shares of the industrial products company's stock worth $3,481,000 after acquiring an additional 3,706 shares in the last quarter. Lazard Asset Management LLC bought a new stake in DXP Enterprises in the fourth quarter worth about $159,000. ProShare Advisors LLC bought a new stake in DXP Enterprises in the fourth quarter worth about $311,000. Finally, State of Wyoming raised its position in DXP Enterprises by 21.9% in the fourth quarter. State of Wyoming now owns 8,724 shares of the industrial products company's stock worth $721,000 after acquiring an additional 1,569 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).

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