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

Key Points

• DXP Enterprises shares broke above their 200-day moving average, reaching $198.74 before last trading at $191.65, compared with the average of $166.87.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $187 price target; Stephens raised its target to $220 and rated the stock “overweight.”
• The company exceeded quarterly expectations, reporting $1.76 in earnings per share versus $1.59 expected and revenue of $576.46 million versus a $543 million consensus estimate. Institutional investors own approximately 74.82% of the stock.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $166.87 and traded as high as $198.74. DXP Enterprises shares last traded at $191.65, with a volume of 132,862 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings raised DXP Enterprises from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, September 29th. Wall Street Zen cut shares of DXP Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 13th. Finally, Stephens upped their price target on shares of DXP Enterprises from $160.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, DXP Enterprises presently has a consensus rating of "Moderate Buy" and a consensus target price of $187.00.

DXP Enterprises Stock Down 2.1%

The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 33.74 and a beta of 1.03. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.99 and a quick ratio of 2.58. The business has a fifty day moving average price of $185.50 and a two-hundred day moving average price of $166.87.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its earnings results 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 during the quarter, compared to the consensus estimate of $543.00 million. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.

Institutional Trading of DXP Enterprises

Several large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp acquired a new position in DXP Enterprises during the second quarter valued at $13,566,000. Diversify Wealth Management LLC purchased a new position in shares of DXP Enterprises during the 1st quarter valued at about $1,226,000. Odyssean LLC raised its stake in shares of DXP Enterprises by 96.3% during the 2nd quarter. Odyssean LLC now owns 17,000 shares of the industrial products company's stock valued at $2,869,000 after buying an additional 8,340 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of DXP Enterprises by 139.8% in the 1st quarter. Quantinno Capital Management LP now owns 8,817 shares of the industrial products company's stock valued at $1,232,000 after buying an additional 5,140 shares during the period. Finally, Globeflex Capital L P acquired a new position in shares of DXP Enterprises in the 2nd quarter valued at about $6,507,000. 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 products and technical solutions used to maintain, repair and operate industrial facilities, with a focus on fluid-handling equipment and other critical components.

Its product offerings include pumps, valves, motors, bearings, power-transmission equipment, hoses, gaskets, safety products and other industrial supplies. DXP also provides engineered pumping systems, equipment repair, field services, technical support and supply-chain management solutions designed to help customers improve operating efficiency and reduce equipment downtime.

DXP serves customers across a range of industries, including energy, petrochemical, mining, food and beverage, water and wastewater, manufacturing and general industrial markets.

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