DXP Enterprises (NASDAQ:DXPE) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• DXP Enterprises shares moved above their 200-day moving average on Wednesday, trading as high as $166.92 and last changing hands at $165.54. The stock’s 200-day average was $145.71, signaling recent momentum in the shares.
• Wall Street sentiment is mixed: two analysts rate DXP as a Buy and two as a Hold, giving it a Moderate Buy consensus with a $154.00 price target. Several firms recently downgraded the stock, though Weiss Ratings reaffirmed a buy rating.
• The company’s latest quarterly results missed earnings and revenue expectations, reporting $1.26 EPS versus $1.38 expected and revenue of $521.66 million versus $531.00 million forecast. Insider selling also occurred recently, including trades by the CMO and a director.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $145.71 and traded as high as $166.92. DXP Enterprises shares last traded at $165.54, with a volume of 89,826 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Freedom Capital downgraded shares of DXP Enterprises from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Zacks Research downgraded shares of DXP Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of DXP Enterprises in a report on Friday, May 22nd. Finally, Wall Street Zen lowered shares of DXP Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, DXP Enterprises currently has an average rating of "Moderate Buy" and a consensus price target of $154.00.

DXP Enterprises Stock Up 1.2%

The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.56 and a current ratio of 2.98. The firm has a 50 day simple moving average of $157.57 and a two-hundred day simple moving average of $145.71. The stock has a market cap of $2.57 billion, a P/E ratio of 30.94 and a beta of 0.97.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The industrial products company reported $1.26 EPS for the quarter, missing analysts' consensus estimates of $1.38 by ($0.12). DXP Enterprises had a net margin of 4.27% and a return on equity of 18.16%. The business had revenue of $521.66 million for the quarter, compared to analyst estimates of $531.00 million. Equities research analysts predict that DXP Enterprises, Inc. will post 6.2 earnings per share for the current year.

Insider Activity

In other news, CMO Paz Maestas sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $164.37, for a total value of $1,643,700.00. Following the completion of the transaction, the chief marketing officer directly owned 590,262 shares in the company, valued at $97,021,364.94. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy P. Halter sold 6,842 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $141.59, for a total transaction of $968,758.78. Following the transaction, the director owned 30,000 shares in the company, valued at $4,247,700. This represents a 18.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 22.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DXP Enterprises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in shares of DXP Enterprises by 3,507.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company's stock worth $41,000 after buying an additional 456 shares in the last quarter. KBC Group NV bought a new position in DXP Enterprises during the first quarter valued at about $51,000. Clearstead Advisors LLC grew its holdings in DXP Enterprises by 164.5% during the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company's stock worth $54,000 after acquiring an additional 306 shares during the period. GAMMA Investing LLC grew its holdings in DXP Enterprises by 35.4% during the fourth quarter. GAMMA Investing LLC now owns 860 shares of the industrial products company's stock worth $94,000 after acquiring an additional 225 shares during the period. Finally, State of Wyoming bought a new stake in DXP Enterprises in the fourth quarter worth about $152,000. 74.82% of the stock is 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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