DXP Enterprises (NASDAQ:DXPE) Reaches New 52-Week High – Here’s Why

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) hit a new 52-week high during trading on Wednesday . The company traded as high as $105.94 and last traded at $102.56, with a volume of 369673 shares changing hands. The stock had previously closed at $102.67.

Analyst Upgrades and Downgrades

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

DXP Enterprises Trading Up 2.7 %

The firm has a market capitalization of $1.68 billion, a P/E ratio of 27.59 and a beta of 1.67. The stock’s 50-day simple moving average is $81.29 and its two-hundred day simple moving average is $62.37. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78.

DXP Enterprises (NASDAQ:DXPE) last posted 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. The company had revenue of $472.94 million for the quarter. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. During the same period in the prior year, the firm posted $0.93 earnings per share. Equities research analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Insiders Place Their Bets

In other news, insider Christopher T. Gregory sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $73.10, for a total transaction of $73,100.00. Following the sale, the insider now directly owns 29,606 shares of the company’s stock, valued at $2,164,198.60. This represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

Several large investors have recently bought and sold shares of DXPE. Quantbot Technologies LP bought a new position in DXP Enterprises during the third quarter valued at $41,000. SG Americas Securities LLC bought a new position in shares of DXP Enterprises in the 3rd quarter valued at about $197,000. Jane Street Group LLC grew its position in DXP Enterprises by 9.6% in the third quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company’s stock worth $316,000 after acquiring an additional 517 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in DXP Enterprises during the third quarter worth approximately $1,107,000. Finally, De Lisle Partners LLP raised its position in DXP Enterprises by 96.7% during the third quarter. De Lisle Partners LLP now owns 21,654 shares of the industrial products company’s stock valued at $1,157,000 after purchasing an additional 10,645 shares during the period. Institutional investors own 74.82% of the company’s stock.

DXP Enterprises Company Profile

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).