DXP Enterprises (NASDAQ:DXPE) Reaches New 1-Year High - Time to Buy?

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $86.22 and last traded at $86.22, with a volume of 61223 shares changing hands. The stock had previously closed at $82.62.

Analyst Upgrades and Downgrades

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

DXP Enterprises Stock Up 2.1 %

The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22. The company has a market cap of $1.32 billion, a P/E ratio of 21.75 and a beta of 1.70. The stock has a 50 day moving average price of $71.69 and a 200 day moving average price of $57.64.

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

Insiders Place Their Bets

In other news, insider Christopher T. Gregory sold 1,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $73.10, for a total value of $73,100.00. Following the completion of the sale, the insider now owns 29,606 shares in the company, valued at $2,164,198.60. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 22.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DXP Enterprises

Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its stake in shares of DXP Enterprises by 0.3% in the 3rd 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 last quarter. Quest Partners LLC lifted its position in shares of DXP Enterprises by 24.8% in the second quarter. Quest Partners LLC now owns 2,109 shares of the industrial products company's stock worth $97,000 after buying an additional 419 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of 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 in the last quarter. Quantbot Technologies LP acquired a new position in shares of DXP Enterprises during the 3rd quarter valued at about $41,000. Finally, Federated Hermes Inc. raised its stake in shares of 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 acquiring an additional 888 shares in the last quarter. 74.82% of the stock is owned by hedge funds and other institutional investors.

DXP Enterprises Company Profile

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).