DXP Enterprises, Inc. (NASDAQ:DXPE) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report released on Monday, July 24th.
DXPE has been the topic of a number of other reports. Zacks Investment Research lowered shares of DXP Enterprises from a “buy” rating to a “hold” rating in a report on Monday, July 17th. KeyCorp restated a “sector weight” rating on shares of DXP Enterprises in a report on Friday, May 26th. Finally, Sidoti restated a “buy” rating and set a $49.00 price objective (up from $47.00) on shares of DXP Enterprises in a report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $39.50.
Shares of DXP Enterprises (DXPE) traded up 1.69% during mid-day trading on Monday, reaching $28.33. 121,495 shares of the company’s stock traded hands. The company’s 50 day moving average is $33.93 and its 200-day moving average is $35.55. The firm has a market cap of $493.00 million, a price-to-earnings ratio of 31.83 and a beta of 2.63. DXP Enterprises has a 52 week low of $15.63 and a 52 week high of $42.00.
DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $250.69 million for the quarter, compared to analysts’ expectations of $246.15 million. DXP Enterprises had a net margin of 1.58% and a return on equity of 6.15%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. Equities analysts expect that DXP Enterprises will post $0.78 earnings per share for the current fiscal year.
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In related news, VP David C. Vinson sold 3,000 shares of DXP Enterprises stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $39.12, for a total transaction of $117,360.00. Following the completion of the sale, the vice president now owns 6,681 shares of the company’s stock, valued at approximately $261,360.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kent Nee Hung Yee sold 4,000 shares of DXP Enterprises stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $37.63, for a total transaction of $150,520.00. Following the sale, the insider now directly owns 40,278 shares of the company’s stock, valued at approximately $1,515,661.14. The disclosure for this sale can be found here. 11.30% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new stake in shares of DXP Enterprises during the first quarter valued at approximately $102,000. State of Alaska Department of Revenue increased its stake in DXP Enterprises by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 3,059 shares of the industrial products company’s stock worth $105,000 after buying an additional 1,349 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in DXP Enterprises by 3.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,640 shares of the industrial products company’s stock worth $126,000 after buying an additional 110 shares in the last quarter. Mason Street Advisors LLC increased its stake in DXP Enterprises by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,608 shares of the industrial products company’s stock worth $137,000 after buying an additional 236 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in DXP Enterprises by 63.1% in the second quarter. BNP Paribas Arbitrage SA now owns 5,688 shares of the industrial products company’s stock worth $196,000 after buying an additional 2,201 shares in the last quarter. 73.90% of the stock is owned by institutional investors and hedge funds.
About DXP Enterprises
DXP Enterprises, Inc (DXP) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers. The Company operates through three segments: Service Centers, Supply Chain Services and Innovative Pumping Solutions. The Service Centers segment provides MRO products, equipment and services, including technical expertise and logistics capabilities to industrial customers.
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