DXP Enterprises (NASDAQ:DXPE) Reaches New 52-Week High - Should You Buy?

Key Points

• 52-week high: DXP shares hit a new 52-week high of $174.72 (last $172.15), trading above the consensus analyst price target of $154.
• Earnings beat: The company reported Q results of $1.39 EPS vs. $0.91 expected and revenue of $527.4M vs. $499M, with a 4.4% net margin and 18.8% ROE, and healthy liquidity (quick ratio 2.94, current ratio 3.34).
• Analyst and ownership picture: Analysts have upgraded the stock (Zacks to Strong Buy; Wall Street Zen to Buy) giving a consensus "Buy"; institutional investors own ~74.8% while insiders hold ~22.4% and a director recently sold shares.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $174.72 and last traded at $172.15, with a volume of 170761 shares. The stock had previously closed at $168.90.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Zacks Research upgraded shares of DXP Enterprises from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 12th. Loop Capital set a $154.00 price target on shares of DXP Enterprises in a research note on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of DXP Enterprises from a "hold" rating to a "buy" rating in a research note on Saturday, March 28th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat, DXP Enterprises currently has a consensus rating of "Buy" and a consensus price target of $154.00.

DXP Enterprises Stock Up 1.9%

The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.94 and a current ratio of 3.34. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 32.00 and a beta of 1.07. The firm's 50-day simple moving average is $146.73 and its 200-day simple moving average is $126.36.

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

Insider Transactions at DXP Enterprises

In other DXP Enterprises news, Director Joseph R. Mannes sold 1,500 shares of the firm's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $137.95, for a total value of $206,925.00. Following the sale, the director directly owned 13,964 shares in the company, valued at $1,926,333.80. This trade represents a 9.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 22.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DXP Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB bought a new position in shares of DXP Enterprises during the 4th quarter worth about $1,597,000. SG Americas Securities LLC lifted its holdings in shares of DXP Enterprises by 646.7% during the 4th quarter. SG Americas Securities LLC now owns 15,143 shares of the industrial products company's stock worth $1,663,000 after acquiring an additional 13,115 shares during the period. Oliver Luxxe Assets LLC bought a new position in shares of DXP Enterprises during the 4th quarter worth about $2,955,000. Intrua Financial LLC bought a new position in shares of DXP Enterprises during the 3rd quarter worth about $1,848,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new position in shares of DXP Enterprises during the 4th quarter worth about $1,591,000. 74.82% of the stock is owned by institutional investors.

About DXP Enterprises

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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