BidaskClub Downgrades DXP Enterprises (NASDAQ:DXPE) to Sell

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

A number of other brokerages have also issued reports on DXPE. Sidoti lowered shares of DXP Enterprises from a buy rating to a neutral rating in a research report on Thursday, July 11th. Zacks Investment Research lowered shares of DXP Enterprises from a buy rating to a hold rating in a research report on Tuesday, September 17th. Finally, ValuEngine raised shares of DXP Enterprises from a sell rating to a hold rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $47.00.

DXPE stock traded down $0.43 on Friday, reaching $32.17. 88,139 shares of the company were exchanged, compared to its average volume of 79,061. DXP Enterprises has a 12 month low of $26.95 and a 12 month high of $45.66. The stock’s fifty day moving average price is $33.41 and its 200 day moving average price is $35.89. The firm has a market capitalization of $556.22 million, a PE ratio of 16.58, a PEG ratio of 0.75 and a beta of 2.62. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.56 and a quick ratio of 1.75.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.08. DXP Enterprises had a net margin of 3.19% and a return on equity of 12.86%. The business had revenue of $333.30 million for the quarter, compared to analyst estimates of $331.07 million. During the same quarter in the previous year, the firm posted $0.61 earnings per share. DXP Enterprises’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts expect that DXP Enterprises will post 2.4 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its position in DXP Enterprises by 19.6% during the second quarter. GSA Capital Partners LLP now owns 9,339 shares of the industrial products company’s stock worth $354,000 after acquiring an additional 1,533 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in DXP Enterprises during the second quarter worth $311,000. Swiss National Bank boosted its stake in DXP Enterprises by 2.0% during the second quarter. Swiss National Bank now owns 31,000 shares of the industrial products company’s stock worth $1,175,000 after buying an additional 600 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in DXP Enterprises by 1.4% during the second quarter. JPMorgan Chase & Co. now owns 320,583 shares of the industrial products company’s stock worth $12,477,000 after buying an additional 4,274 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in DXP Enterprises by 30.2% during the second quarter. Renaissance Technologies LLC now owns 94,500 shares of the industrial products company’s stock worth $3,581,000 after buying an additional 21,900 shares in the last quarter. 78.92% of the stock is currently owned by institutional investors and hedge funds.

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 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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