DXP Enterprises (DXPE) Downgraded to Hold at BidaskClub

BidaskClub cut shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a hold rating in a report published on Friday, September 14th.

Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of DXP Enterprises from a buy rating to a hold rating in a report on Monday, August 6th. ValuEngine raised shares of DXP Enterprises from a hold rating to a buy rating in a report on Wednesday, July 4th.

Shares of NASDAQ DXPE traded down $0.26 during midday trading on Friday, hitting $38.39. The company’s stock had a trading volume of 54,300 shares, compared to its average volume of 98,542. DXP Enterprises has a one year low of $24.89 and a one year high of $49.50. The company has a quick ratio of 1.74, a current ratio of 2.57 and a debt-to-equity ratio of 0.83. The firm has a market cap of $696.70 million, a P/E ratio of 44.38 and a beta of 2.57.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.36. The company had revenue of $311.23 million for the quarter, compared to analyst estimates of $287.10 million. DXP Enterprises had a net margin of 2.31% and a return on equity of 8.83%. Equities analysts expect that DXP Enterprises will post 1.5 EPS for the current year.

In other DXP Enterprises news, insider Kent Nee Hung Yee sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $43.35, for a total value of $216,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP David C. Vinson sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $48.00, for a total transaction of $192,000.00. Following the completion of the transaction, the vice president now directly owns 6,563 shares of the company’s stock, valued at approximately $315,024. The disclosure for this sale can be found here. Insiders have sold a total of 59,000 shares of company stock worth $2,829,250 in the last ninety days. 9.20% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new stake in shares of DXP Enterprises in the 2nd quarter valued at $141,000. Hood River Capital Management LLC boosted its stake in shares of DXP Enterprises by 8.6% in the 2nd quarter. Hood River Capital Management LLC now owns 619,635 shares of the industrial products company’s stock valued at $23,670,000 after purchasing an additional 49,196 shares in the last quarter. Federated Investors Inc. PA boosted its stake in shares of DXP Enterprises by 9.0% in the 2nd quarter. Federated Investors Inc. PA now owns 49,835 shares of the industrial products company’s stock valued at $1,904,000 after purchasing an additional 4,126 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in shares of DXP Enterprises by 0.7% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,030,415 shares of the industrial products company’s stock valued at $39,362,000 after purchasing an additional 7,348 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of DXP Enterprises by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 121,311 shares of the industrial products company’s stock valued at $4,725,000 after purchasing an additional 2,877 shares in the last quarter. 76.76% of the stock is owned by institutional investors.

About DXP Enterprises

DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates through three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.

Further Reading: Intrinsic Value and Stock Selection

Receive News & Ratings for DXP Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DXP Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply