DXP Enterprises (NASDAQ:DXPE) Reaches New 52-Week High – Should You Buy?

DXP Enterprises, Inc. (NASDAQ:DXPE)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $86.22 and last traded at $86.22, with a volume of 61223 shares trading hands. The stock had previously closed at $82.62.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Stephens raised their price target on DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. StockNews.com cut DXP Enterprises from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

DXP Enterprises Trading Up 1.6 %

The company has a quick ratio of 1.78, a current ratio of 2.22 and a debt-to-equity ratio of 1.29. The company’s fifty day simple moving average is $72.44 and its two-hundred day simple moving average is $57.91. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 22.09 and a beta of 1.67.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Monday, November 4th. The industrial products company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The company had revenue of $472.94 million for the quarter. During the same period in the prior year, the business earned $0.93 EPS. Research analysts forecast that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Insider Buying and Selling at DXP Enterprises

In other news, insider Christopher T. Gregory sold 1,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $73.10, for a total value of $73,100.00. Following the sale, the insider now owns 29,606 shares of the company’s stock, valued at $2,164,198.60. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in shares of DXP Enterprises by 125.3% during the 2nd quarter. Renaissance Technologies LLC now owns 111,300 shares of the industrial products company’s stock worth $5,102,000 after buying an additional 61,900 shares during the last quarter. Pacer Advisors Inc. boosted its position in DXP Enterprises by 4.1% during the third quarter. Pacer Advisors Inc. now owns 744,587 shares of the industrial products company’s stock valued at $39,731,000 after purchasing an additional 29,131 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in DXP Enterprises by 39.2% in the third quarter. Assenagon Asset Management S.A. now owns 52,858 shares of the industrial products company’s stock valued at $2,821,000 after purchasing an additional 14,886 shares in the last quarter. Barclays PLC increased its position in shares of DXP Enterprises by 355.4% during the 3rd quarter. Barclays PLC now owns 23,723 shares of the industrial products company’s stock worth $1,267,000 after purchasing an additional 18,514 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in shares of DXP Enterprises during the 3rd quarter worth approximately $1,107,000. 74.82% of the stock is currently 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).