DXP Enterprises (NASDAQ:DXPE) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a hold rating in a report released on Tuesday.

Separately, Stephens upped their price objective on shares of DXP Enterprises from $75.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, March 10th.

DXP Enterprises Trading Down 3.2 %

Shares of DXP Enterprises stock opened at $82.93 on Tuesday. 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 $93.62 and its 200-day simple moving average is $75.82. The stock has a market cap of $1.30 billion, a P/E ratio of 21.37 and a beta of 1.66. DXP Enterprises has a 1-year low of $43.25 and a 1-year high of $107.06.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings data on Thursday, March 6th. The industrial products company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.49. The company had revenue of $470.91 million for the quarter, compared to analyst estimates of $447.00 million. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. Analysts predict that DXP Enterprises will post 4.07 EPS for the current fiscal year.

Insider Activity at DXP Enterprises

In related news, Director Timothy P. Halter sold 5,000 shares of DXP Enterprises stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $89.75, for a total value of $448,750.00. Following the completion of the sale, the director now owns 45,925 shares in the company, valued at approximately $4,121,768.75. This trade represents a 9.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Paz Maestas sold 4,328 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $89.04, for a total value of $385,365.12. Following the transaction, the chief marketing officer now owns 613,039 shares in the company, valued at $54,584,992.56. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,785 shares of company stock worth $1,139,818. Insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its position in DXP Enterprises by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 68,997 shares of the industrial products company’s stock valued at $3,682,000 after buying an additional 178 shares during the period. CastleKnight Management LP increased its holdings in DXP Enterprises by 0.3% in the fourth quarter. CastleKnight Management LP now owns 117,300 shares of the industrial products company’s stock valued at $9,691,000 after buying an additional 300 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of DXP Enterprises by 4.4% in the 4th quarter. Sterling Capital Management LLC now owns 7,656 shares of the industrial products company’s stock valued at $633,000 after acquiring an additional 326 shares during the last quarter. Global Retirement Partners LLC increased its stake in DXP Enterprises by 2,220.0% in the fourth 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. Finally, Federated Hermes Inc. increased its stake in DXP Enterprises by 4.7% in the fourth quarter. Federated Hermes Inc. now owns 11,220 shares of the industrial products company’s stock valued at $927,000 after purchasing an additional 502 shares during the last quarter. Institutional investors and hedge funds own 74.82% of the company’s stock.

DXP Enterprises Company Profile

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).