DXP Enterprises (NASDAQ:DXPE) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a hold rating in a research report released on Saturday.

Several other research firms have also commented on DXPE. Freedom Capital lowered shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Loop Capital set a $154.00 price target on shares of DXP Enterprises in a research report on Monday, March 2nd. Finally, Zacks Research lowered shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, DXP Enterprises has a consensus rating of “Moderate Buy” and a consensus price target of $154.00.

DXP Enterprises Stock Performance

Shares of DXPE stock opened at $146.84 on Friday. The firm has a market capitalization of $2.28 billion, a P/E ratio of 27.45 and a beta of 1.07. The company’s fifty day moving average price is $148.29 and its two-hundred day moving average price is $128.80. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.98 and a quick ratio of 2.56. DXP Enterprises has a 12 month low of $75.58 and a 12 month high of $183.91.

DXP Enterprises (NASDAQ:DXPE) last issued its earnings results on Thursday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.12). The company had revenue of $521.66 million during the quarter, compared to analyst estimates of $531.00 million. DXP Enterprises had a net margin of 4.27% and a return on equity of 18.16%. On average, research analysts anticipate that DXP Enterprises will post 6.2 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Joseph R. Mannes sold 1,500 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $137.95, for a total transaction of $206,925.00. Following the completion of the sale, the director owned 13,964 shares in the company, valued at $1,926,333.80. This trade represents a 9.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 22.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On DXP Enterprises

Several large investors have recently bought and sold shares of the business. Quantinno Capital Management LP grew its holdings in DXP Enterprises by 139.8% during the first quarter. Quantinno Capital Management LP now owns 8,817 shares of the industrial products company’s stock valued at $1,232,000 after purchasing an additional 5,140 shares during the period. Cetera Investment Advisers acquired a new position in DXP Enterprises during the first quarter worth $335,000. First Trust Advisors LP boosted its holdings in DXP Enterprises by 1.1% during the first quarter. First Trust Advisors LP now owns 68,634 shares of the industrial products company’s stock worth $9,590,000 after purchasing an additional 756 shares during the last quarter. KBC Group NV bought a new stake in DXP Enterprises during the first quarter worth $51,000. Finally, Hanseatic Management Services Inc. bought a new stake in DXP Enterprises during the first quarter worth $297,000. 74.82% of the stock is currently owned by institutional investors and hedge funds.

About DXP Enterprises

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.