DXP Enterprises (NASDAQ:DXPE) Stock Price Down 4.2% - What's Next?

Key Points

• DXP Enterprises shares fell 4.2% to about $171.47 in mid-day trading, with volume below its average.
• Analyst sentiment remains positive: the stock has a “Moderate Buy” consensus rating and an average price target of $187, while Stephens raised its target to $220.
• The company exceeded quarterly expectations, reporting $1.76 in EPS versus $1.59 expected and revenue of $576.46 million versus $543 million forecast; institutional investors own 74.82% of shares.

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) traded down 4.2% during mid-day trading on Tuesday. The company traded as low as $171.09 and last traded at $171.4650. Approximately 110,857 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 153,969 shares. The stock had previously closed at $178.99.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DXPE shares. Stephens lifted their target price 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. 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. Finally, Wall Street Zen upgraded DXP Enterprises from a "buy" rating to a "strong-buy" rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $187.00.

DXP Enterprises Trading Down 4.7%

The company's 50 day moving average price is $186.86 and its 200 day moving average price is $169.61. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 30.04 and a beta of 1.03. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.58 and a current ratio of 2.99.

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

Hedge Funds Weigh In On DXP Enterprises

Several institutional investors have recently bought and sold shares of DXPE. Bank of New York Mellon Corp bought a new stake in shares of DXP Enterprises during the 2nd quarter worth $13,566,000. Globeflex Capital L P acquired a new position in DXP Enterprises in the 2nd quarter valued at $6,507,000. Congress Asset Management Co. raised its holdings in DXP Enterprises by 21.7% in the 3rd quarter. Congress Asset Management Co. now owns 64,015 shares of the industrial products company's stock worth $11,600,000 after acquiring an additional 11,423 shares during the period. SummerHaven Investment Management LLC raised its holdings 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 acquiring an additional 9,070 shares during the period. Finally, Diversify Wealth Management LLC bought a new position in DXP Enterprises in the 1st quarter worth $1,226,000. 74.82% of the stock is currently owned by 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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