DXP Enterprises (NASDAQ:DXPE) Share Price Breaks Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• DXP Enterprises shares broke above their 200-day moving average, reaching $167.41 before closing at $164.43, while the 200-day average stood at $159.82.
• Analyst sentiment is positive, with a consensus rating of “Moderate Buy” and an average price target of $187. Stephens raised its target substantially from $160 to $220.
• The company exceeded quarterly expectations, reporting earnings of $1.76 per share versus the $1.59 consensus estimate and revenue of $576.46 million compared with the $543 million forecast.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $159.82 and traded as high as $167.41. DXP Enterprises shares last traded at $164.43, with a volume of 121,365 shares.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DXPE shares. Wall Street Zen raised shares of DXP Enterprises from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 17th. Stephens raised their price objective on shares of DXP Enterprises from $160.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Weiss Ratings raised shares of DXP Enterprises from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, September 29th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $187.00.

DXP Enterprises Price Performance

The company has a market cap of $2.55 billion, a P/E ratio of 28.95 and a beta of 1.03. The company has a fifty day simple moving average of $184.02 and a 200-day simple moving average of $159.82. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.99 and a quick ratio of 2.58.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.17. The business had revenue of $576.46 million during the quarter, compared to analyst estimates of $543.00 million. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.

Institutional Investors Weigh In On DXP Enterprises

Several hedge funds have recently modified their holdings of DXPE. Sterling Capital Management LLC lifted its holdings in shares of DXP Enterprises by 834.8% during the third quarter. Sterling Capital Management LLC now owns 430 shares of the industrial products company's stock valued at $78,000 after purchasing an additional 384 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in DXP Enterprises by 99.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 351 shares of the industrial products company's stock worth $64,000 after purchasing an additional 175 shares in the last quarter. Net Worth Advisory Group purchased a new position in DXP Enterprises in the 3rd quarter worth about $213,000. SummerHaven Investment Management LLC increased its stake in DXP Enterprises by 110.6% in the 3rd quarter. SummerHaven Investment Management LLC now owns 17,271 shares of the industrial products company's stock worth $3,130,000 after purchasing an additional 9,070 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in DXP Enterprises during the 3rd quarter worth about $39,000. 74.82% of the stock is owned by hedge funds and other institutional investors.

DXP Enterprises Company Profile

DXP Enterprises, Inc is an industrial distribution and services company headquartered in Houston, Texas. The company supplies maintenance, repair and operating products used by industrial, commercial and government customers, with an emphasis on rotating equipment, fluid handling and related industrial applications.

Its product offerings include pumps, valves, bearings, power-transmission components, hose and rubber products, industrial supplies, safety equipment and other maintenance products.

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