DXP Enterprises (NASDAQ:DXPE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada, Mexico and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production (MROP) services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP’s breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. “
Separately, BidaskClub upgraded DXP Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 26th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $44.00.
DXP Enterprises (DXPE) opened at $39.92 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.51 and a quick ratio of 1.79. DXP Enterprises has a 1 year low of $24.86 and a 1 year high of $42.00. The firm has a market capitalization of $560.54, a price-to-earnings ratio of 33.43 and a beta of 2.64.
In other DXP Enterprises news, CEO David R. Little sold 13,500 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $29.50, for a total transaction of $398,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,368,214 shares in the company, valued at approximately $40,362,313. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd Hamlin sold 2,500 shares of the firm’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $29.68, for a total value of $74,200.00. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock valued at $944,900 in the last quarter. 9.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in DXPE. Municipal Employees Retirement System of Michigan boosted its position in DXP Enterprises by 59.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 5,820 shares of the industrial products company’s stock worth $183,000 after acquiring an additional 2,180 shares during the period. MetLife Investment Advisors LLC acquired a new stake in DXP Enterprises during the 4th quarter worth about $206,000. BNP Paribas Arbitrage SA boosted its position in DXP Enterprises by 46.7% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,346 shares of the industrial products company’s stock worth $263,000 after acquiring an additional 2,658 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in DXP Enterprises during the 3rd quarter worth about $290,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in DXP Enterprises during the 4th quarter worth about $295,000. Hedge funds and other institutional investors own 75.80% of the company’s stock.
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DXP Enterprises Company Profile
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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