DXP Enterprises (NASDAQ:DXPE) Reaches New 1-Year High - Still a Buy?

Key Points

• DXP Enterprises shares reached a new 52-week high at $115.00, closing at $111.84 with a volume of 188,434 shares traded.
• Wall Street analysts have downgraded DXP Enterprises from a "buy" to a "hold" rating, while the company reported $1.26 earnings per share, exceeding consensus estimates.
• Insider transactions show significant stock sales, with COO Nicholas Little selling 45,938 shares, reflecting a 5.35% decrease in his position.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report)'s share price hit a new 52-week high on Thursday . The stock traded as high as $115.00 and last traded at $111.84, with a volume of 188434 shares trading hands. The stock had previously closed at $110.53.

Analyst Ratings Changes

Separately, Wall Street Zen lowered DXP Enterprises from a "buy" rating to a "hold" rating in a report on Friday, May 16th.

DXP Enterprises Stock Performance

The company has a fifty day moving average price of $90.29 and a two-hundred day moving average price of $89.43. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 23.40 and a beta of 1.25. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.70 and a quick ratio of 2.25.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.06. DXP Enterprises had a return on equity of 20.41% and a net margin of 4.27%. The company had revenue of $476.57 million for the quarter, compared to analyst estimates of $477.00 million. As a group, equities research analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Insider Activity

In related news, CMO Paz Maestas sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $81.16, for a total transaction of $162,320.00. Following the completion of the sale, the chief marketing officer owned 605,737 shares in the company, valued at $49,161,614.92. This represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Nicholas Little sold 45,938 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $87.73, for a total value of $4,030,140.74. Following the sale, the chief operating officer owned 812,328 shares of the company's stock, valued at approximately $71,265,535.44. The trade was a 5.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,938 shares of company stock valued at $4,690,731. 22.40% of the stock is currently owned by corporate insiders.

Institutional Trading of DXP Enterprises

A number of hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of DXP Enterprises by 24.3% in the 2nd quarter. GAMMA Investing LLC now owns 634 shares of the industrial products company's stock worth $56,000 after buying an additional 124 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of DXP Enterprises by 0.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 17,413 shares of the industrial products company's stock worth $1,432,000 after buying an additional 142 shares in the last quarter. Rezny Wealth Management Inc. raised its holdings in shares of DXP Enterprises by 1.2% in the 2nd quarter. Rezny Wealth Management Inc. now owns 17,803 shares of the industrial products company's stock worth $1,560,000 after buying an additional 215 shares in the last quarter. Algert Global LLC raised its holdings in shares of DXP Enterprises by 2.6% in the 1st quarter. Algert Global LLC now owns 11,255 shares of the industrial products company's stock worth $926,000 after buying an additional 280 shares in the last quarter. Finally, CastleKnight Management LP raised its holdings in shares of DXP Enterprises by 0.3% in the 4th quarter. CastleKnight Management LP now owns 117,300 shares of the industrial products company's stock worth $9,691,000 after buying an additional 300 shares in the last quarter. Institutional investors own 74.82% of the company's stock.

About DXP Enterprises

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).