DXP Enterprises (NASDAQ:DXPE) Reaches New 12-Month Low - What's Next?

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $83.13 and last traded at $88.46, with a volume of 100877 shares changing hands. The stock had previously closed at $87.49.

Analysts Set New Price Targets

DXPE has been the subject of a number of research reports. StockNews.com downgraded DXP Enterprises from a "buy" rating to a "hold" rating in a report on Wednesday. Stephens lifted their price objective on shares of DXP Enterprises from $75.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, March 10th.

DXP Enterprises Price Performance

The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22. The company has a fifty day moving average price of $82.86 and a two-hundred day moving average price of $81.51. The company has a market cap of $1.44 billion, a P/E ratio of 23.72 and a beta of 1.29.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The industrial products company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.49. The firm had revenue of $470.91 million during the quarter, compared to the consensus estimate of $447.00 million. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. On average, sell-side analysts anticipate that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kent Nee Hung Yee sold 3,457 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $88.43, for a total transaction of $305,702.51. Following the completion of the sale, the chief financial officer now owns 68,849 shares in the company, valued at approximately $6,088,317.07. This trade represents a 4.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David R. Little bought 5,999 shares of DXP Enterprises stock in a transaction that occurred on Wednesday, March 26th. The shares were bought at an average cost of $82.70 per share, with a total value of $496,117.30. Following the acquisition, the chief executive officer now directly owns 1,257,593 shares in the company, valued at $104,002,941.10. This trade represents a 0.48 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 12,785 shares of company stock valued at $1,139,818 in the last quarter. Company insiders own 22.40% of the company's stock.

Hedge Funds Weigh In On DXP Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in DXP Enterprises by 113.3% during the 1st quarter. Victory Capital Management Inc. now owns 41,377 shares of the industrial products company's stock worth $3,404,000 after buying an additional 21,978 shares during the period. CWM LLC increased its position in DXP Enterprises by 32.2% during the first quarter. CWM LLC now owns 1,487 shares of the industrial products company's stock worth $122,000 after acquiring an additional 362 shares during the period. Alps Advisors Inc. bought a new stake in DXP Enterprises in the 1st quarter valued at about $351,000. Envestnet Asset Management Inc. acquired a new position in shares of DXP Enterprises during the 1st quarter worth approximately $1,420,000. Finally, Principal Financial Group Inc. increased its holdings in shares of DXP Enterprises by 3.8% during the first quarter. Principal Financial Group Inc. now owns 74,229 shares of the industrial products company's stock worth $6,106,000 after purchasing an additional 2,728 shares during the period. Institutional investors and hedge funds own 74.82% of the company's stock.

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).