DXP Enterprises (NASDAQ:DXPE) Upgraded by StockNews.com to “Buy” Rating

DXP Enterprises (NASDAQ:DXPE) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Separately, Stephens boosted their price target 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 Stock Up 1.5 %

Shares of NASDAQ DXPE opened at $80.80 on Friday. DXP Enterprises has a 52-week low of $43.25 and a 52-week high of $107.06. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 20.82 and a beta of 1.29. The stock has a 50 day moving average price of $85.68 and a 200 day moving average price of $78.89. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22.

DXP Enterprises (NASDAQ:DXPE) last issued its earnings results on Thursday, March 6th. The industrial products company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.49. The business had revenue of $470.91 million during the quarter, compared to analysts’ expectations of $447.00 million. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. Sell-side analysts expect that DXP Enterprises will post 4.07 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO David R. Little purchased 5,999 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were acquired at an average cost of $82.70 per share, with a total value of $496,117.30. Following the completion of the acquisition, the chief executive officer now owns 1,257,593 shares of the company’s stock, valued at $104,002,941.10. This trade represents a 0.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kent Nee Hung Yee sold 3,457 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $88.43, for a total value of $305,702.51. Following the sale, the chief financial officer now owns 68,849 shares of the company’s stock, valued at approximately $6,088,317.07. This represents a 4.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,785 shares of company stock worth $1,139,818 in the last three months. 22.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC grew its stake in shares of DXP Enterprises by 0.8% during the first quarter. SummerHaven Investment Management LLC now owns 17,413 shares of the industrial products company’s stock worth $1,432,000 after acquiring an additional 142 shares during the last quarter. Principal Financial Group Inc. grew its position in DXP Enterprises by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 68,997 shares of the industrial products company’s stock worth $3,682,000 after purchasing an additional 178 shares during the last quarter. CastleKnight Management LP raised its holdings in shares of DXP Enterprises by 0.3% in the fourth quarter. CastleKnight Management LP now owns 117,300 shares of the industrial products company’s stock worth $9,691,000 after buying an additional 300 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of DXP Enterprises by 4.4% during the fourth quarter. Sterling Capital Management LLC now owns 7,656 shares of the industrial products company’s stock worth $633,000 after buying an additional 326 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in shares of DXP Enterprises by 2,220.0% during the fourth quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company’s stock valued at $29,000 after buying an additional 333 shares during the last quarter. 74.82% of the stock is owned by institutional investors and hedge funds.

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).