DXP Enterprises (NASDAQ:DXPE) Stock Price Down 6.1% – Should You Sell?

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) dropped 6.1% during mid-day trading on Thursday . The company traded as low as $80.97 and last traded at $80.47. Approximately 25,044 shares changed hands during trading, a decline of 84% from the average daily volume of 152,726 shares. The stock had previously closed at $85.65.

Wall Street Analyst Weigh In

DXPE has been the subject of a number of research reports. StockNews.com raised shares of DXP Enterprises from a “hold” rating to a “buy” rating in a report on Tuesday. Stephens lifted their target price on DXP Enterprises from $75.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th.

DXP Enterprises Price Performance

The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 22.05 and a beta of 1.66. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78. The stock’s 50 day simple moving average is $94.23 and its two-hundred day simple moving average is $73.72.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Thursday, March 6th. The industrial products company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.49. The business had revenue of $470.91 million for the quarter, compared to analysts’ expectations of $447.00 million. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. On average, analysts forecast that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DXP Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC lifted its holdings in DXP Enterprises by 2,220.0% during the 4th quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 333 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of DXP Enterprises by 3,150.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 504 shares during the last quarter. Quantbot Technologies LP bought a new stake in DXP Enterprises during the 3rd quarter worth approximately $41,000. Lazard Asset Management LLC bought a new stake in DXP Enterprises during the 4th quarter worth approximately $159,000. Finally, Hsbc Holdings PLC bought a new position in DXP Enterprises in the 4th quarter valued at $208,000. Institutional investors own 74.82% of the company’s stock.

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).