DXP Enterprises (NASDAQ:DXPE) Shares Down 15.1% on Disappointing Earnings

DXP Enterprises, Inc. (NASDAQ:DXPE) shares fell 15.1% during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $95.01 and last traded at $103.5550. 94,337 shares were traded during mid-day trading, a decline of 47% from the average session volume of 177,942 shares. The stock had previously closed at $122.01.

The industrial products company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.11). DXP Enterprises had a net margin of 4.52% and a return on equity of 20.94%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wall Street Zen downgraded DXP Enterprises from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 13th. Singular Research raised DXP Enterprises to a “moderate buy” rating in a report on Tuesday, September 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of DXP Enterprises in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, DXP Enterprises presently has a consensus rating of “Buy” and an average target price of $95.00.

Insider Transactions at DXP Enterprises

In related news, CMO Paz Maestas sold 5,000 shares of DXP Enterprises stock in a transaction on Monday, August 18th. The stock was sold at an average price of $120.11, for a total value of $600,550.00. Following the transaction, the chief marketing officer directly owned 600,737 shares in the company, valued at $72,154,521.07. The trade was a 0.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher T. Gregory sold 4,477 shares of DXP Enterprises stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $119.76, for a total value of $536,165.52. Following the completion of the transaction, the insider owned 19,959 shares in the company, valued at $2,390,289.84. The trade was a 18.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,316 shares of company stock worth $4,960,704 over the last quarter. Insiders own 22.40% of the company’s stock.

Institutional Trading of DXP Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of DXPE. HM Payson & Co. acquired a new stake in shares of DXP Enterprises in the third quarter worth $27,000. EverSource Wealth Advisors LLC boosted its position in shares of DXP Enterprises by 3,507.7% in the second quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock worth $41,000 after buying an additional 456 shares during the period. GAMMA Investing LLC boosted its position in shares of DXP Enterprises by 24.3% in the second quarter. GAMMA Investing LLC now owns 634 shares of the industrial products company’s stock worth $56,000 after buying an additional 124 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in shares of DXP Enterprises in the third quarter worth $58,000. Finally, CWM LLC boosted its position in DXP Enterprises by 32.2% during the first quarter. CWM LLC now owns 1,487 shares of the industrial products company’s stock valued at $122,000 after purchasing an additional 362 shares during the last quarter. Institutional investors and hedge funds own 74.82% of the company’s stock.

DXP Enterprises Stock Down 17.1%

The business has a 50 day simple moving average of $120.33 and a 200 day simple moving average of $103.60. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.79 and a quick ratio of 2.33. The stock has a market cap of $1.59 billion, a PE ratio of 19.35 and a beta of 1.15.

About DXP Enterprises

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).