DXP Enterprises (NASDAQ:DXPE) Reaches New 52-Week High - Time to Buy?

Key Points

• Shares of DXP Enterprises reached a new 52-week high of $174 intraday (last $167.31) but later traded down about 3.5% on volume around 113,284 shares.
• Recent upgrades (Zacks to Strong Buy, Wall Street Zen to Buy) leave an average rating of "Buy", though the consensus price target is $154, below the current trading level.
• DXP reported an earnings beat with Q EPS $1.39 vs. $0.91 estimate and revenue $527.4M vs. $499M, and the company has a market cap of $2.56B with a P/E of about 30.6.

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $174.00 and last traded at $167.3110, with a volume of 113284 shares. The stock had previously closed at $170.66.

Wall Street Analyst Weigh In

DXPE has been the topic of several recent research reports. Zacks Research upgraded DXP Enterprises from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 12th. Wall Street Zen upgraded DXP Enterprises from a "hold" rating to a "buy" rating in a research note on Saturday, March 28th. Finally, Loop Capital set a $154.00 target price on DXP Enterprises in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, DXP Enterprises presently has an average rating of "Buy" and an average price target of $154.00.

DXP Enterprises Trading Down 3.5%

The company has a 50 day moving average of $145.90 and a 200-day moving average of $125.73. 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 stock has a market cap of $2.56 billion, a price-to-earnings ratio of 30.61 and a beta of 0.96.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its 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. DXP Enterprises had a return on equity of 18.83% and a net margin of 4.40%.The firm had revenue of $527.39 million for the quarter, compared to analyst estimates of $499.00 million. On average, research analysts anticipate that DXP Enterprises, Inc. will post 6.2 earnings per share for the current year.

Insider Buying and Selling at DXP Enterprises

In other news, Director Joseph R. Mannes sold 1,500 shares of the company's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $137.95, for a total value of $206,925.00. Following the completion of the sale, the director owned 13,964 shares of the company's stock, valued at $1,926,333.80. This represents a 9.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.40% of the stock is owned by insiders.

Hedge Funds Weigh In On DXP Enterprises

Institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB bought a new position in DXP Enterprises during the fourth quarter worth about $1,597,000. SG Americas Securities LLC raised its stake in shares of DXP Enterprises by 646.7% in the fourth quarter. SG Americas Securities LLC now owns 15,143 shares of the industrial products company's stock valued at $1,663,000 after acquiring an additional 13,115 shares during the last quarter. Oliver Luxxe Assets LLC bought a new position in shares of DXP Enterprises in the fourth quarter valued at approximately $2,955,000. Intrua Financial LLC bought a new position in DXP Enterprises in the 3rd quarter worth approximately $1,848,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new position in DXP Enterprises in the 4th quarter worth approximately $1,591,000. 74.82% of the stock is currently 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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