DXP Enterprises (NASDAQ:DXPE) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a sell rating to a hold rating in a report issued on Wednesday morning, BidAskClub reports.

A number of other equities research analysts also recently weighed in on DXPE. Stephens set a $47.00 price target on shares of DXP Enterprises and gave the stock a buy rating in a research note on Wednesday, May 8th. Sidoti downgraded shares of DXP Enterprises from a buy rating to a neutral rating in a research note on Thursday, July 11th. Zacks Investment Research upgraded shares of DXP Enterprises from a hold rating to a buy rating and set a $42.00 price target on the stock in a research note on Wednesday, July 10th. TheStreet downgraded shares of DXP Enterprises from a b rating to a c+ rating in a research note on Wednesday, May 15th. Finally, Jefferies Financial Group assumed coverage on shares of DXP Enterprises in a research note on Thursday, April 25th. They issued a hold rating and a $47.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. DXP Enterprises has a consensus rating of Hold and a consensus target price of $47.00.

DXPE traded down $0.66 during trading on Wednesday, reaching $32.03. 66,642 shares of the company’s stock were exchanged, compared to its average volume of 80,225. DXP Enterprises has a fifty-two week low of $26.95 and a fifty-two week high of $49.50. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.48 and a quick ratio of 1.71. The firm has a 50 day moving average of $34.76. The company has a market cap of $597.54 million, a P/E ratio of 16.51, a P/E/G ratio of 0.82 and a beta of 2.65.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. DXP Enterprises had a net margin of 3.09% and a return on equity of 12.59%. The firm had revenue of $311.20 million for the quarter, compared to the consensus estimate of $310.87 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts anticipate that DXP Enterprises will post 2.37 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of DXPE. Nisa Investment Advisors LLC increased its stake in shares of DXP Enterprises by 192.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 760 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of DXP Enterprises by 345.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 940 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 729 shares during the last quarter. Advisor Group Inc. increased its stake in shares of DXP Enterprises by 62.2% in the 4th quarter. Advisor Group Inc. now owns 1,552 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 595 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in DXP Enterprises by 674.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,370 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 2,935 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in DXP Enterprises by 396.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,378 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 4,294 shares in the last quarter. Institutional investors own 79.05% 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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