DXP Enterprises (NASDAQ:DXPE) Shares Down 7% - Here's What Happened

Key Points

• DXP Enterprises' shares fell by 7% to a last trading price of $111.51, following increased trading volume over the average session.
• Wall Street Zen downgraded DXP Enterprises from a "buy" rating to a "hold" rating, while the company still has an average rating of "Buy" and a target price of $95.00.
• Insiders have sold a significant amount of stock, with 67,337 shares worth over $6 million sold in the last three months, indicating potential concerns about the company's future performance.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) shares fell 7% during mid-day trading on Wednesday . The company traded as low as $112.13 and last traded at $111.51. 229,267 shares changed hands during trading, an increase of 25% from the average session volume of 183,406 shares. The stock had previously closed at $119.94.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DXPE. Wall Street Zen cut DXP Enterprises from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Singular Research upgraded DXP Enterprises to a "moderate buy" rating in a report on Tuesday, September 9th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, DXP Enterprises presently has a consensus rating of "Buy" and a consensus price target of $95.00.

DXP Enterprises Stock Down 0.4%

The company has a debt-to-equity ratio of 1.33, a current ratio of 2.79 and a quick ratio of 2.33. The business has a 50 day moving average price of $112.36 and a 200 day moving average price of $93.68. The firm has a market capitalization of $1.84 billion, a P/E ratio of 22.44 and a beta of 1.24.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.04. The business had revenue of $498.68 million for the quarter, compared to analyst estimates of $499.00 million. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%. On average, analysts predict that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Christopher T. Gregory sold 5,000 shares of DXP Enterprises stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $122.00, for a total transaction of $610,000.00. Following the sale, the insider directly owned 24,436 shares of the company's stock, valued at $2,981,192. This trade represents a 16.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Paz Maestas sold 5,000 shares of DXP Enterprises stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $120.11, for a total value of $600,550.00. Following the sale, the chief marketing officer directly owned 600,737 shares in the company, valued at approximately $72,154,521.07. This trade represents a 0.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,337 shares of company stock valued at $6,431,516 in the last ninety days. Company insiders own 22.40% of the company's stock.

Institutional Investors Weigh In On DXP Enterprises

A number of institutional investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its position in DXP Enterprises by 0.9% during the second quarter. CANADA LIFE ASSURANCE Co now owns 10,857 shares of the industrial products company's stock worth $950,000 after buying an additional 100 shares in the last quarter. GAMMA Investing LLC grew its position in DXP Enterprises by 24.3% during the second quarter. GAMMA Investing LLC now owns 634 shares of the industrial products company's stock worth $56,000 after buying an additional 124 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in DXP Enterprises by 0.8% during the first quarter. SummerHaven Investment Management LLC now owns 17,413 shares of the industrial products company's stock valued at $1,432,000 after purchasing an additional 142 shares in the last quarter. Rezny Wealth Management Inc. boosted its holdings in DXP Enterprises by 1.2% during the second quarter. Rezny Wealth Management Inc. now owns 17,803 shares of the industrial products company's stock valued at $1,560,000 after purchasing an additional 215 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in DXP Enterprises by 7.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,264 shares of the industrial products company's stock valued at $286,000 after purchasing an additional 222 shares in the last quarter. 74.82% of the stock is owned by institutional investors and hedge funds.

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).