ValuEngine Upgrades DXP Enterprises (NASDAQ:DXPE) to Hold

ValuEngine upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, ValuEngine reports.

DXPE has been the topic of several other research reports. Sidoti lowered shares of DXP Enterprises from a buy rating to a neutral rating in a report on Thursday, July 11th. BidaskClub raised shares of DXP Enterprises from a sell rating to a hold rating in a report on Thursday, October 24th. Finally, Zacks Investment Research lowered shares of DXP Enterprises from a hold rating to a sell rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $47.00.

NASDAQ DXPE traded up $0.06 during trading on Wednesday, reaching $41.00. The company’s stock had a trading volume of 69,400 shares, compared to its average volume of 77,741. DXP Enterprises has a 1-year low of $26.95 and a 1-year high of $45.66. The business has a 50-day moving average price of $34.47 and a 200-day moving average price of $34.88. The stock has a market capitalization of $634.22 million, a PE ratio of 21.13, a PEG ratio of 0.86 and a beta of 2.64. The company has a current ratio of 2.56, a quick ratio of 1.75 and a debt-to-equity ratio of 0.87.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.10. The firm had revenue of $327.18 million for the quarter, compared to analyst estimates of $323.44 million. DXP Enterprises had a net margin of 3.19% and a return on equity of 12.86%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 EPS. As a group, analysts expect that DXP Enterprises will post 2.39 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in DXP Enterprises by 1.4% in the 2nd quarter. BlackRock Inc. now owns 2,500,228 shares of the industrial products company’s stock valued at $94,734,000 after buying an additional 34,365 shares during the period. JPMorgan Chase & Co. increased its holdings in DXP Enterprises by 1.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 320,583 shares of the industrial products company’s stock valued at $12,477,000 after buying an additional 4,274 shares during the period. Grandeur Peak Global Advisors LLC increased its holdings in DXP Enterprises by 0.7% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 279,812 shares of the industrial products company’s stock valued at $10,602,000 after buying an additional 1,925 shares during the period. Wells Fargo & Company MN increased its holdings in DXP Enterprises by 55.3% in the 2nd quarter. Wells Fargo & Company MN now owns 255,979 shares of the industrial products company’s stock valued at $9,699,000 after buying an additional 91,152 shares during the period. Finally, Nuveen Asset Management LLC bought a new stake in DXP Enterprises in the 2nd quarter valued at $8,671,000. 78.32% of the stock is currently owned by hedge funds and other institutional investors.

DXP Enterprises Company Profile

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 in 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.

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