DXP Enterprises (NASDAQ:DXPE) Stock Rating Upgraded by Wall Street Zen

DXP Enterprises (NASDAQ:DXPE) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday, Wall Street Zen reports.

DXPE has been the subject of a number of other reports. Stephens boosted their target price on shares of DXP Enterprises from $160.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings raised DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 29th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, DXP Enterprises currently has a consensus rating of “Moderate Buy” and an average price target of $187.00.

DXP Enterprises Price Performance

DXPE opened at $175.79 on Friday. The company has a quick ratio of 2.58, a current ratio of 2.99 and a debt-to-equity ratio of 1.51. The firm has a 50 day moving average price of $187.14 and a 200-day moving average price of $169.33. DXP Enterprises has a twelve month low of $84.04 and a twelve month high of $208.00. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 30.95 and a beta of 1.03.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.17. DXP Enterprises had a net margin of 4.35% and a return on equity of 18.51%. The company had revenue of $576.46 million for the quarter, compared to the consensus estimate of $543.00 million.

Institutional Investors Weigh In On DXP Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SummerHaven Investment Management LLC lifted its stake in shares of DXP Enterprises by 110.6% in the 3rd quarter. SummerHaven Investment Management LLC now owns 17,271 shares of the industrial products company’s stock worth $3,130,000 after purchasing an additional 9,070 shares during the period. USA Financial Formulas bought a new stake in DXP Enterprises during the third quarter valued at approximately $39,000. Triasima Portfolio Management inc. bought a new stake in DXP Enterprises during the third quarter valued at approximately $366,000. GK Wealth Management LLC bought a new stake in DXP Enterprises during the third quarter valued at approximately $52,000. Finally, GAMMA Investing LLC grew its position in DXP Enterprises by 6.3% during the third quarter. GAMMA Investing LLC now owns 977 shares of the industrial products company’s stock valued at $177,000 after buying an additional 58 shares during the period. Hedge funds and other 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.