DXP Enterprises (NASDAQ:DXPE) Reaches New 12-Month High After Earnings Beat

Key Points

• DXP Enterprises shares recently reached a new 52-week high, trading at $115.00 before settling at $113.17, with a trading volume of 12,831 shares.
• Analysts at Wall Street Zen downgraded DXP Enterprises from a "buy" to a "hold" rating, indicating a more cautious outlook.
• For the last quarter, DXP Enterprises reported an earnings per share (EPS) of $1.26, exceeding analyst expectations of $1.20, and generated revenue of $476.57 million.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report)'s stock price hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $115.00 and last traded at $113.17, with a volume of 12831 shares. The stock had previously closed at $114.14.

The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.39 by $0.04. The business had revenue of $498.68 million for the quarter, compared to the consensus estimate of $499.00 million. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%.

Analyst Ratings Changes

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

Insider Activity at DXP Enterprises

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of DXP Enterprises by 24.3% during the 2nd quarter. GAMMA Investing LLC now owns 634 shares of the industrial products company's stock worth $56,000 after purchasing an additional 124 shares in the last quarter. CWM LLC grew its stake in DXP Enterprises by 32.2% in the 1st quarter. CWM LLC now owns 1,487 shares of the industrial products company's stock valued at $122,000 after buying an additional 362 shares in the last quarter. Lazard Asset Management LLC purchased a new position in DXP Enterprises during the fourth quarter valued at approximately $159,000. Hsbc Holdings PLC bought a new position in shares of DXP Enterprises in the fourth quarter worth $208,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of DXP Enterprises in the first quarter worth $210,000. Institutional investors own 74.82% of the company's stock.

DXP Enterprises Price Performance

The company has a current ratio of 2.79, a quick ratio of 2.33 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $1.73 billion, a P/E ratio of 20.99 and a beta of 1.25. The business's fifty day moving average price is $92.98 and its 200-day moving average price is $89.67.

DXP Enterprises Company Profile

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).