DXP Enterprises (DXPE) Downgraded by ValuEngine to “Hold”

ValuEngine lowered shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Several other brokerages have also recently issued reports on DXPE. BidaskClub raised DXP Enterprises from a buy rating to a strong-buy rating in a research report on Friday, August 10th. Zacks Investment Research cut DXP Enterprises from a hold rating to a strong sell rating in a research report on Wednesday, July 4th.

NASDAQ:DXPE traded up $0.09 on Thursday, hitting $36.11. The stock had a trading volume of 544 shares, compared to its average volume of 72,410. The stock has a market capitalization of $639.15 million, a price-to-earnings ratio of 41.99 and a beta of 2.56. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.74 and a current ratio of 2.57. DXP Enterprises has a 52-week low of $24.89 and a 52-week high of $49.50.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Tuesday, August 7th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.36. The business had revenue of $311.23 million for the quarter, compared to analysts’ expectations of $287.10 million. DXP Enterprises had a return on equity of 8.83% and a net margin of 2.31%. As a group, equities analysts forecast that DXP Enterprises will post 1.5 earnings per share for the current fiscal year.

In other news, VP David C. Vinson sold 4,000 shares of DXP Enterprises stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $48.00, for a total transaction of $192,000.00. Following the transaction, the vice president now directly owns 6,563 shares of the company’s stock, valued at approximately $315,024. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David R. Little sold 50,000 shares of DXP Enterprises stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $48.41, for a total value of $2,420,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,000 shares of company stock worth $2,829,250. Insiders own 9.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Northern Trust Corp lifted its position in shares of DXP Enterprises by 3.3% during the 2nd quarter. Northern Trust Corp now owns 201,316 shares of the industrial products company’s stock valued at $7,691,000 after buying an additional 6,449 shares in the last quarter. Millennium Management LLC purchased a new position in shares of DXP Enterprises during the 2nd quarter valued at about $2,864,000. Nantahala Capital Management LLC lifted its position in shares of DXP Enterprises by 21.3% during the 2nd quarter. Nantahala Capital Management LLC now owns 773,900 shares of the industrial products company’s stock valued at $29,563,000 after buying an additional 135,950 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of DXP Enterprises by 15.9% during the 2nd quarter. King Luther Capital Management Corp now owns 519,060 shares of the industrial products company’s stock valued at $19,828,000 after buying an additional 71,350 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its position in shares of DXP Enterprises by 9.0% during the 2nd quarter. Federated Investors Inc. PA now owns 49,835 shares of the industrial products company’s stock valued at $1,904,000 after buying an additional 4,126 shares in the last quarter. 76.76% of the stock is currently owned by hedge funds and other institutional investors.

About DXP Enterprises

DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates through three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.

Featured Story: Stock Symbol

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for DXP Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DXP Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply