DXP Enterprises (NASDAQ:DXPE) Shares Break Above 200 Day Moving Average – Time to Sell?

DXP Enterprises, Inc. (NASDAQ:DXPE)’s share price passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $166.87 and traded as high as $198.74. DXP Enterprises shares last traded at $191.65, with a volume of 132,862 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DXPE shares. Weiss Ratings raised DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 29th. Stephens lifted their price objective on shares of DXP Enterprises from $160.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Wall Street Zen lowered shares of DXP Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 13th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, DXP Enterprises currently has a consensus rating of “Moderate Buy” and an average price target of $187.00.

DXP Enterprises Price Performance

The company has a market cap of $2.77 billion, a P/E ratio of 31.44 and a beta of 1.03. The company has a fifty day moving average price of $186.13 and a two-hundred day moving average price of $167.21. 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) last released its earnings results on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.17. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.The business had revenue of $576.46 million for the quarter, compared to analyst estimates of $543.00 million.

Institutional Investors Weigh In On DXP Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Congress Asset Management Co. grew its stake in shares of DXP Enterprises by 21.7% in the third quarter. Congress Asset Management Co. now owns 64,015 shares of the industrial products company’s stock valued at $11,600,000 after buying an additional 11,423 shares in the last quarter. WINTON GROUP Ltd raised its position in DXP Enterprises by 2.9% during the second quarter. WINTON GROUP Ltd now owns 6,786 shares of the industrial products company’s stock worth $1,145,000 after acquiring an additional 190 shares in the last quarter. Engineers Gate Manager LP raised its position in DXP Enterprises by 68.3% during the second quarter. Engineers Gate Manager LP now owns 11,429 shares of the industrial products company’s stock worth $1,929,000 after acquiring an additional 4,639 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in DXP Enterprises in the second quarter valued at $126,000. Finally, Nykredit A S acquired a new stake in DXP Enterprises in the second quarter valued at $36,000. Institutional investors own 74.82% of the company’s stock.

About DXP Enterprises

DXP Enterprises, Inc is an industrial distribution and services company headquartered in Houston, Texas. The company supplies products and technical solutions used to maintain, repair and operate industrial facilities, with a focus on fluid-handling equipment and other critical components.

Its product offerings include pumps, valves, motors, bearings, power-transmission equipment, hoses, gaskets, safety products and other industrial supplies. DXP also provides engineered pumping systems, equipment repair, field services, technical support and supply-chain management solutions designed to help customers improve operating efficiency and reduce equipment downtime.

DXP serves customers across a range of industries, including energy, petrochemical, mining, food and beverage, water and wastewater, manufacturing and general industrial markets.