DXP Enterprises (NASDAQ:DXPE) Upgraded to "Moderate Buy" at Singular Research

Key Points

• DXP Enterprises was upgraded to a "moderate buy" rating by Singular Research, indicating improved analyst sentiment towards the stock.
• The company reported **earnings per share of $1.43**, surpassing the consensus estimate, although revenue fell slightly short of expectations at $498.68 million.
• Recent insider trading saw significant activity, with executives selling a total of **67,337 shares** valued at over $6.4 million in the past 90 days.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) was upgraded by equities researchers at Singular Research to a "moderate buy" rating in a research report issued on Tuesday,Zacks.com reports.

Separately, Wall Street Zen downgraded shares of DXP Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, DXP Enterprises has an average rating of "Buy" and an average price target of $95.00.

DXP Enterprises Stock Performance

DXP Enterprises stock opened at $113.86 on Tuesday. The firm's 50 day simple moving average is $110.74 and its 200-day simple moving average is $93.03. The company has a market cap of $1.79 billion, a P/E ratio of 21.73 and a beta of 1.24. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.79 and a quick ratio of 2.33. DXP Enterprises has a fifty-two week low of $45.81 and a fifty-two week high of $129.56.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its earnings results on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share 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 net margin of 4.52% and a return on equity of 20.94%. As a group, equities research analysts predict that DXP Enterprises will post 4.07 EPS for the current year.

Insider Buying and Selling at DXP Enterprises

In other DXP Enterprises news, SVP John Jay Jeffery sold 2,000 shares of DXP Enterprises stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $125.43, for a total value of $250,860.00. Following the completion of the sale, the senior vice president directly owned 20,008 shares in the company, valued at $2,509,603.44. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher T. Gregory sold 5,000 shares of DXP Enterprises stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $122.00, for a total transaction of $610,000.00. Following the completion of the sale, the insider 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 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 90 days. Corporate insiders own 22.70% of the company's stock.

Institutional Trading of DXP Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its stake in shares of DXP Enterprises by 0.9% in 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 during the last quarter. GAMMA Investing LLC lifted its stake in shares of DXP Enterprises by 24.3% in 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 during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of DXP Enterprises by 0.8% in the first quarter. SummerHaven Investment Management LLC now owns 17,413 shares of the industrial products company's stock worth $1,432,000 after buying an additional 142 shares during the last quarter. Rezny Wealth Management Inc. lifted its stake in shares of DXP Enterprises by 1.2% in the second quarter. Rezny Wealth Management Inc. now owns 17,803 shares of the industrial products company's stock worth $1,560,000 after buying an additional 215 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of DXP Enterprises by 7.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,264 shares of the industrial products company's stock worth $286,000 after buying an additional 222 shares during the last quarter. 74.82% of the stock is currently 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).

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