DXP Enterprises (NASDAQ:DXPE) Reaches New 12-Month High - Here's What Happened

Key Points

• DXP Enterprises shares hit a new 52-week high, trading as high as $172.26 (last $168.03) on Thursday with about 69,411 shares changing hands and the stock up roughly 2.8%.
• Analysts have turned more positive—Zacks upgraded to a Strong Buy, Wall Street Zen and Weiss flagged buys—leaving a MarketBeat consensus rating of Buy and a consensus price target of $154 (below the current price).
• DXPE beat quarterly estimates with EPS $1.39 vs. $0.91 expected and revenue $527.4M vs. $499M, and the company shows a ROE of 18.8%, a market cap of $2.61B, with insiders owning 22.7% and institutions 74.82%.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $172.26 and last traded at $168.03, with a volume of 69411 shares changing hands. The stock had previously closed at $163.77.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DXPE shares. Zacks Research upgraded DXP Enterprises from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 12th. Weiss Ratings reiterated a "buy (b-)" rating on shares of DXP Enterprises in a research report on Monday, December 29th. Loop Capital set a $154.00 price target on DXP Enterprises in a research report on Monday, March 2nd. Finally, Wall Street Zen upgraded DXP Enterprises from a "hold" rating to a "buy" rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, DXP Enterprises currently has an average rating of "Buy" and a consensus price target of $154.00.

DXP Enterprises Stock Up 2.8%

The company has a debt-to-equity ratio of 1.64, a current ratio of 3.34 and a quick ratio of 2.94. The company has a market cap of $2.61 billion, a PE ratio of 31.29 and a beta of 0.96. The company has a fifty day moving average price of $144.15 and a 200 day moving average price of $124.40.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.91 by $0.48. DXP Enterprises had a return on equity of 18.83% and a net margin of 4.40%.The company had revenue of $527.39 million during the quarter, compared to analyst estimates of $499.00 million. As a group, analysts anticipate that DXP Enterprises, Inc. will post 6.2 EPS for the current year.

Insider Activity at DXP Enterprises

In other news, Director Joseph R. Mannes sold 1,500 shares of the business's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $137.95, for a total transaction of $206,925.00. Following the completion of the transaction, the director owned 13,964 shares of the company's stock, valued at approximately $1,926,333.80. The trade was a 9.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of DXP Enterprises by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company's stock worth $133,867,000 after purchasing an additional 137,577 shares in the last quarter. Vanguard Group Inc. boosted its stake in DXP Enterprises by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 964,360 shares of the industrial products company's stock worth $105,877,000 after buying an additional 18,414 shares in the last quarter. Wasatch Advisors LP boosted its stake in DXP Enterprises by 480.2% in the fourth quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company's stock worth $82,859,000 after buying an additional 624,638 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in DXP Enterprises by 12,369,100.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company's stock worth $40,785,000 after buying an additional 371,073 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in DXP Enterprises by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 335,991 shares of the industrial products company's stock worth $36,895,000 after buying an additional 9,767 shares in the last quarter. Hedge funds and other institutional investors own 74.82% of the company's stock.

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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