DXP Enterprises (NASDAQ:DXPE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $38.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.20% from the stock’s current price.
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. “
A number of other brokerages have also issued reports on DXPE. BidaskClub lowered shares of DXP Enterprises from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 23rd. ValuEngine raised shares of DXP Enterprises from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Finally, Stephens reissued a “buy” rating and issued a $49.00 price objective on shares of DXP Enterprises in a report on Wednesday, November 14th.
Shares of DXPE opened at $34.80 on Thursday. The company has a quick ratio of 1.80, a current ratio of 2.65 and a debt-to-equity ratio of 0.80. DXP Enterprises has a 12-month low of $26.95 and a 12-month high of $49.50. The stock has a market capitalization of $595.63 million, a P/E ratio of 40.47 and a beta of 2.44.
Hedge funds have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. boosted its stake in DXP Enterprises by 100.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,000 shares of the industrial products company’s stock worth $28,000 after buying an additional 500 shares during the period. Laurel Wealth Advisors LLC purchased a new position in DXP Enterprises during the fourth quarter worth about $28,000. Oppenheimer Asset Management Inc. purchased a new position in DXP Enterprises during the fourth quarter worth about $37,000. Quantamental Technologies LLC purchased a new position in DXP Enterprises during the fourth quarter worth about $38,000. Finally, Advisor Group Inc. boosted its stake in DXP Enterprises by 62.2% during the fourth quarter. Advisor Group Inc. now owns 1,552 shares of the industrial products company’s stock worth $43,000 after buying an additional 595 shares during the period. 80.41% 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.
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