DXP Enterprises (NASDAQ:DXPE) Reaches New 12-Month High - Here's Why

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $102.18 and last traded at $98.55, with a volume of 487049 shares changing hands. The stock had previously closed at $96.17.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DXPE. Stephens boosted their price objective on shares of DXP Enterprises from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. StockNews.com downgraded DXP Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, December 20th.

DXP Enterprises Stock Performance

The company has a quick ratio of 1.78, a current ratio of 2.22 and a debt-to-equity ratio of 1.29. The firm has a 50-day moving average of $78.67 and a 200 day moving average of $60.62. The stock has a market capitalization of $1.56 billion, a P/E ratio of 25.62 and a beta of 1.67.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. The company had revenue of $472.94 million during the quarter. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. During the same quarter in the prior year, the company posted $0.93 EPS. Research analysts anticipate that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Insider Buying and Selling at DXP Enterprises

In other DXP Enterprises news, insider Christopher T. Gregory sold 1,000 shares of DXP Enterprises stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $73.10, for a total transaction of $73,100.00. Following the completion of the transaction, the insider now directly owns 29,606 shares of the company's stock, valued at approximately $2,164,198.60. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 22.40% of the company's stock.

Institutional Investors Weigh In On DXP Enterprises

Large investors have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in DXP Enterprises in the third quarter valued at about $41,000. SG Americas Securities LLC acquired a new position in shares of DXP Enterprises in the 3rd quarter worth approximately $197,000. Jane Street Group LLC grew its position in DXP Enterprises by 9.6% during the 3rd quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company's stock worth $316,000 after acquiring an additional 517 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in DXP Enterprises during the 2nd quarter valued at $437,000. Finally, Federated Hermes Inc. raised its position in DXP Enterprises by 8.8% in the 2nd quarter. Federated Hermes Inc. now owns 10,962 shares of the industrial products company's stock valued at $502,000 after purchasing an additional 888 shares during the last quarter. 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).