DXP Enterprises (NASDAQ:DXPE) Stock Breaks Above 200-Day Moving Average - What's Next?

Key Points

• DXP Enterprises shares broke above their 200-day moving average, reaching $195.62 and last trading at $191.43 versus the $164.52 average.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and a $187.00 target price; Stephens recently raised its target to $220.
• The company exceeded quarterly expectations, reporting $1.76 EPS and $576.46 million in revenue, while institutional investors own 74.82% of the stock.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $164.52 and traded as high as $195.62. DXP Enterprises shares last traded at $191.43, with a volume of 161,724 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings lowered shares of DXP Enterprises from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, September 17th. Stephens raised their price target on DXP Enterprises from $160.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded shares of DXP Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 13th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $187.00.

DXP Enterprises Price Performance

The company has a quick ratio of 2.58, a current ratio of 2.99 and a debt-to-equity ratio of 1.51. The company has a 50 day simple moving average of $183.27 and a 200-day simple moving average of $164.52. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 33.70 and a beta of 1.02.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its earnings results on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share (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 analysts' expectations of $543.00 million. DXP Enterprises had a net margin of 4.35% and a return on equity of 18.51%.

Institutional Trading of DXP Enterprises

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new position in DXP Enterprises in the 2nd quarter valued at approximately $13,566,000. First Trust Advisors LP boosted its stake in shares of DXP Enterprises by 1.1% during the 1st quarter. First Trust Advisors LP now owns 68,634 shares of the industrial products company's stock valued at $9,590,000 after buying an additional 756 shares during the period. Globeflex Capital L P acquired a new stake in shares of DXP Enterprises during the 2nd quarter valued at $6,507,000. Odyssean LLC grew its holdings 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 acquiring an additional 8,340 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of DXP Enterprises by 26.3% during the 1st quarter. California State Teachers Retirement System now owns 15,623 shares of the industrial products company's stock valued at $2,183,000 after acquiring an additional 3,256 shares in the last quarter. 74.82% of the stock is owned by institutional investors and hedge funds.

About DXP Enterprises

DXP Enterprises, Inc is an industrial distribution and services company that provides products and technical support to customers in a range of manufacturing, energy, mining, municipal water and wastewater, and other industrial markets. The company helps customers maintain and improve plant operations by supplying equipment, replacement parts, and related services.

Its offerings include rotating equipment such as pumps, compressors, and motors; power-transmission products; industrial bearings; hose and fluid-handling products; safety supplies; and other maintenance, repair, operating and production (MROP) products.

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