DXP Enterprises (NASDAQ:DXPE) Stock Price Down 9.5% – Should You Sell?

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) were down 9.5% during mid-day trading on Thursday . The stock traded as low as $94.41 and last traded at $93.17. Approximately 69,039 shares traded hands during trading, a decline of 75% from the average daily volume of 279,410 shares. The stock had previously closed at $102.91.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DXPE. Stephens boosted their target price on shares of DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

DXP Enterprises Stock Performance

The stock’s 50 day simple moving average is $92.84 and its two-hundred day simple moving average is $69.63. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78. The company has a market capitalization of $1.49 billion, a P/E ratio of 24.56 and a beta of 1.67.

Insider Transactions at DXP Enterprises

In other news, insider Christopher T. Gregory sold 1,000 shares of DXP Enterprises stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $73.10, for a total transaction of $73,100.00. Following the completion of the sale, the insider now owns 29,606 shares in the company, valued at $2,164,198.60. The trade was a 3.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC grew its holdings in 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 purchasing an additional 333 shares during the period. Smartleaf Asset Management LLC grew its holdings in DXP Enterprises by 3,150.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 504 shares during the period. Quantbot Technologies LP acquired a new position in DXP Enterprises during the third quarter valued at approximately $41,000. Lazard Asset Management LLC acquired a new position in DXP Enterprises during the fourth quarter valued at approximately $159,000. Finally, Hsbc Holdings PLC acquired a new position in DXP Enterprises during the fourth quarter valued at approximately $208,000. Institutional investors and hedge funds own 74.82% of the company’s stock.

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).