Shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) saw strong trading volume on Wednesday . 194,696 shares traded hands during mid-day trading, an increase of 42% from the previous session's volume of 137,232 shares.The stock last traded at $150.1210 and had previously closed at $154.62.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on DXPE. Weiss Ratings reiterated a "buy (b-)" rating on shares of DXP Enterprises in a research note on Monday, December 29th. Zacks Research upgraded shares of DXP Enterprises from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 12th. Loop Capital set a $154.00 price objective on shares of DXP Enterprises in a research report on Monday, March 2nd. Finally, Wall Street Zen raised shares of 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 given a Buy rating to the company. According to MarketBeat, DXP Enterprises has an average rating of "Buy" and a consensus target price of $154.00.
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DXP Enterprises Price Performance
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 cap of $2.32 billion, a P/E ratio of 27.78 and a beta of 0.96. The firm has a 50 day moving average price of $142.84 and a two-hundred day moving average price of $122.99.
DXP Enterprises (NASDAQ:DXPE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.48. The business had revenue of $527.39 million for the quarter, compared to analysts' expectations of $499.00 million. DXP Enterprises had a return on equity of 18.83% and a net margin of 4.40%. On average, analysts predict that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Joseph R. Mannes sold 1,500 shares of DXP Enterprises stock in a transaction that occurred 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 completion of the transaction, the director directly owned 13,964 shares in the company, valued at approximately $1,926,333.80. The trade was a 9.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.40% of the company's stock.
Hedge Funds Weigh In On DXP Enterprises
A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in shares of DXP Enterprises by 29.4% during the 1st quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company's stock valued at $417,000 after purchasing an additional 1,153 shares during the period. Millennium Management LLC lifted its holdings in shares of DXP Enterprises by 661.5% in the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company's stock worth $10,608,000 after buying an additional 112,021 shares in the last quarter. Jane Street Group LLC grew its stake in DXP Enterprises by 433.8% during the first quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company's stock valued at $4,850,000 after acquiring an additional 47,909 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in DXP Enterprises by 9.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 67,018 shares of the industrial products company's stock worth $5,874,000 after acquiring an additional 5,820 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in DXP Enterprises by 19.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,699 shares of the industrial products company's stock worth $412,000 after purchasing an additional 761 shares in the last quarter. 74.82% of the stock is owned by institutional investors.
About DXP Enterprises
(
Get Free Report)
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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