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

Key Points

• DXP Enterprises shares moved above their 200-day moving average, reaching $187.36 before last trading at $178.31, compared with the $168.76 average.
• Analysts remain moderately bullish: Stephens raised its price target to $220, while the consensus target is $187 and the average rating is “Moderate Buy.”
• The company exceeded quarterly expectations, reporting $1.76 in earnings per share versus a $1.59 estimate and revenue of $576.46 million versus $543 million expected; institutional investors own 74.82% of the stock.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $168.76 and traded as high as $187.36. DXP Enterprises shares last traded at $178.31, with a volume of 252,806 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Weiss Ratings raised DXP Enterprises from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, September 29th. Stephens upped their price objective 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. Finally, Wall Street Zen lowered shares of DXP Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 13th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, DXP Enterprises has an average rating of "Moderate Buy" and a consensus target price of $187.00.

DXP Enterprises Stock Down 2.7%

The business's 50 day moving average is $187.88 and its 200 day moving average is $168.76. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.58 and a current ratio of 2.99. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 31.39 and a beta of 1.03.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted 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. DXP Enterprises had a net margin of 4.35% and a return on equity of 18.51%. The firm had revenue of $576.46 million for the quarter, compared to analysts' expectations of $543.00 million.

Institutional Trading of DXP Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new position in DXP Enterprises during the 2nd quarter valued at about $33,000. Nykredit A S acquired a new position in shares of DXP Enterprises in the 2nd quarter valued at about $36,000. KBC Group NV acquired a new position in shares of DXP Enterprises in the 1st quarter valued at about $51,000. GK Wealth Management LLC acquired a new position in shares of DXP Enterprises in the 3rd quarter valued at about $52,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of DXP Enterprises in the 2nd quarter valued at about $126,000. Institutional investors and hedge funds own 74.82% of the company's stock.

About DXP Enterprises

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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