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

DXP Enterprises (NASDAQ:DXPE) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Separately, Stephens raised their price objective 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 Trading Up 1.3 %

DXP Enterprises stock opened at $79.14 on Thursday. DXP Enterprises has a 52 week low of $43.25 and a 52 week high of $107.06. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 20.40 and a beta of 1.29. The company has a 50 day moving average price of $87.47 and a 200 day moving average price of $78.32.

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

Insider Activity at DXP Enterprises

In other news, Director Timothy P. Halter sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $89.75, for a total transaction of $448,750.00. Following the completion of the sale, the director now directly owns 45,925 shares of the company’s stock, valued at $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 available at this hyperlink. Also, CEO David R. Little purchased 5,999 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were acquired at an average price of $82.70 per share, for a total transaction of $496,117.30. Following the acquisition, the chief executive officer now directly owns 1,257,593 shares in the company, valued at $104,002,941.10. This represents a 0.48 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 12,785 shares of company stock valued at $1,139,818. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of DXP Enterprises

Several large investors have recently made changes to their positions in DXPE. Wellington Management Group LLP acquired a new stake in DXP Enterprises in the 4th quarter worth approximately $67,901,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of DXP Enterprises by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company’s stock worth $59,513,000 after buying an additional 38,900 shares during the last quarter. Northern Trust Corp boosted its position in shares of DXP Enterprises by 10.2% in the fourth quarter. Northern Trust Corp now owns 228,940 shares of the industrial products company’s stock valued at $18,915,000 after acquiring an additional 21,220 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of DXP Enterprises by 2,589.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,349 shares of the industrial products company’s stock worth $12,339,000 after acquiring an additional 143,795 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in DXP Enterprises by 26.5% during the fourth quarter. JPMorgan Chase & Co. now owns 123,986 shares of the industrial products company’s stock worth $10,244,000 after acquiring an additional 25,942 shares during the period. 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).