DXP Enterprises (NASDAQ:DXPE) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of DXP Enterprises (NASDAQ:DXPE - Free Report) from a buy rating to a hold rating in a report released on Tuesday morning.

Separately, Stephens boosted their price objective on DXP Enterprises from $75.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, March 10th.

DXP Enterprises Stock Performance

NASDAQ:DXPE traded down $0.05 during midday trading on Tuesday, hitting $82.88. The company's stock had a trading volume of 121,740 shares, compared to its average volume of 158,087. DXP Enterprises has a fifty-two week low of $43.25 and a fifty-two week high of $107.06. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78. The firm has a market cap of $1.30 billion, a P/E ratio of 21.36 and a beta of 1.66. The firm's 50 day moving average is $93.23 and its 200-day moving average is $76.06.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its earnings results on Thursday, March 6th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.49. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. The firm had revenue of $470.91 million during the quarter, compared to analysts' expectations of $447.00 million. Equities analysts anticipate that DXP Enterprises will post 4.07 earnings per share for the current fiscal year.

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Insider Activity

In related news, Director Timothy P. Halter sold 5,000 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $89.75, for a total value of $448,750.00. Following the completion of the transaction, the director now owns 45,925 shares of the company's stock, valued at approximately $4,121,768.75. This represents a 9.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kent Nee Hung Yee sold 3,457 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $88.43, for a total value of $305,702.51. Following the transaction, the chief financial officer now owns 68,849 shares in the company, valued at $6,088,317.07. This represents a 4.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,785 shares of company stock valued at $1,139,818 in the last three months. 22.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DXP Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in shares of DXP Enterprises by 0.3% in the third quarter. Principal Financial Group Inc. now owns 68,997 shares of the industrial products company's stock valued at $3,682,000 after purchasing an additional 178 shares during the period. CastleKnight Management LP boosted its holdings in DXP Enterprises by 0.3% in the 4th quarter. CastleKnight Management LP now owns 117,300 shares of the industrial products company's stock worth $9,691,000 after buying an additional 300 shares during the last quarter. Sterling Capital Management LLC increased its stake in DXP Enterprises by 4.4% during the 4th quarter. Sterling Capital Management LLC now owns 7,656 shares of the industrial products company's stock worth $633,000 after buying an additional 326 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of DXP Enterprises by 2,220.0% during the fourth quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 333 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of DXP Enterprises by 4.7% in the fourth quarter. Federated Hermes Inc. now owns 11,220 shares of the industrial products company's stock valued at $927,000 after acquiring an additional 502 shares in the last quarter. Hedge funds and other institutional investors own 74.82% of the company's stock.

About DXP Enterprises

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).