DXP Enterprises (DXPE) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of DXP Enterprises (NASDAQ:DXPE) from a sell rating to a strong sell rating in a research report report published on Monday morning, BidAskClub reports.

DXPE has been the topic of several other reports. Zacks Investment Research lowered DXP Enterprises from a buy rating to a hold rating in a research report on Thursday, February 21st. Stephens set a $47.00 target price on DXP Enterprises and gave the stock a buy rating in a research report on Wednesday, May 8th. ValuEngine lowered DXP Enterprises from a buy rating to a hold rating in a research report on Tuesday, January 29th. TheStreet upgraded DXP Enterprises from a c+ rating to a b rating in a research note on Friday, March 8th. Finally, Sidoti decreased their price target on DXP Enterprises from $61.00 to $52.00 and set a buy rating for the company in a research note on Tuesday, February 26th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $48.00.

Shares of DXPE stock opened at $35.29 on Monday. The company has a current ratio of 2.48, a quick ratio of 1.71 and a debt-to-equity ratio of 0.91. DXP Enterprises has a fifty-two week low of $26.95 and a fifty-two week high of $49.50. The stock has a market capitalization of $616.25 million, a price-to-earnings ratio of 18.19, a PEG ratio of 0.85 and a beta of 2.49.

DXP Enterprises (NASDAQ:DXPE) last issued its earnings results on Tuesday, May 7th. The industrial products company reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. DXP Enterprises had a return on equity of 12.59% and a net margin of 3.09%. The company had revenue of $311.20 million for the quarter, compared to analyst estimates of $310.87 million. During the same period in the prior year, the firm posted $0.24 EPS. The business’s revenue was up 8.8% compared to the same quarter last year. Equities research analysts expect that DXP Enterprises will post 2.36 earnings per share for the current fiscal year.

In related news, insider Kent Nee Hung Yee sold 14,960 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $40.52, for a total transaction of $606,179.20. Following the completion of the sale, the insider now owns 29,146 shares in the company, valued at approximately $1,180,995.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 9.20% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its position in shares of DXP Enterprises by 1.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 23,937 shares of the industrial products company’s stock worth $666,000 after acquiring an additional 317 shares during the period. Texas Permanent School Fund lifted its position in shares of DXP Enterprises by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 10,856 shares of the industrial products company’s stock worth $423,000 after acquiring an additional 393 shares during the period. KBC Group NV lifted its position in shares of DXP Enterprises by 3.8% in the 4th quarter. KBC Group NV now owns 10,730 shares of the industrial products company’s stock worth $299,000 after acquiring an additional 395 shares during the period. Comerica Bank lifted its position in shares of DXP Enterprises by 2.9% in the 1st quarter. Comerica Bank now owns 15,789 shares of the industrial products company’s stock worth $685,000 after acquiring an additional 452 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its position in shares of DXP Enterprises by 1.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 45,571 shares of the industrial products company’s stock worth $1,774,000 after acquiring an additional 496 shares during the period. Hedge funds and other institutional investors own 78.85% of the company’s stock.

DXP Enterprises Company Profile

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 in 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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