DXP Enterprises (NASDAQ:DXPE) Share Price Crosses Below 200 Day Moving Average - What's Next?

Key Points

• DXP Enterprises fell below its 200-day moving average of $161.84, trading as low as $155.16 and last at $158.38; the article also reports the stock was down 11.8%.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $187. Stephens raised its target to $220, while Wall Street Zen and Weiss Ratings downgraded their assessments.
• In its latest reported quarter, DXP Enterprises posted earnings of $1.76 per share, above the $1.59 estimate, and revenue of $576.46 million, ahead of the $543 million consensus.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $161.84 and traded as low as $155.16. DXP Enterprises shares last traded at $158.38, with a volume of 208,956 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Stephens lifted their price target on DXP Enterprises from $160.00 to $220.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Wall Street Zen downgraded DXP Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 31st. Finally, Weiss Ratings downgraded DXP Enterprises from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, October 26th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $187.00.

DXP Enterprises Stock Down 11.8%

The stock has a market capitalization of $2.46 billion, a P/E ratio of 27.88 and a beta of 1.03. The company has a current ratio of 2.99, a quick ratio of 2.58 and a debt-to-equity ratio of 1.51. The firm's fifty day moving average is $181.14 and its 200-day moving average is $161.84.

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

Hedge Funds Weigh In On DXP Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of DXP Enterprises by 4.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,720 shares of the industrial products company's stock worth $1,407,000 after buying an additional 312 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of DXP Enterprises by 3.5% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 2,921 shares of the industrial products company's stock valued at $529,000 after acquiring an additional 100 shares during the period. Sterling Capital Management LLC increased its position in DXP Enterprises by 834.8% during the third quarter. Sterling Capital Management LLC now owns 430 shares of the industrial products company's stock worth $78,000 after buying an additional 384 shares during the last quarter. Nisa Investment Advisors LLC raised 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 valued at $64,000 after acquiring an additional 175 shares during the period. Finally, Net Worth Advisory Group bought a new position in shares of DXP Enterprises in the third quarter valued at about $213,000. Institutional investors own 74.82% of the company's stock.

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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