DXP Enterprises (NASDAQ:DXPE) Trading Down 8.6% - Should You Sell?

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) dropped 8.6% during trading on Friday . The company traded as low as $73.14 and last traded at $71.73. Approximately 109,458 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 151,099 shares. The stock had previously closed at $78.45.

Analyst Ratings Changes

Several equities analysts recently issued reports on DXPE shares. StockNews.com downgraded DXP Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, December 20th. Stephens raised their price objective on DXP Enterprises from $75.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday.

DXP Enterprises Price Performance

The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 20.60 and a beta of 1.66. The stock's 50 day moving average price is $94.25 and its two-hundred day moving average price is $73.14. The company has a quick ratio of 1.78, a current ratio of 2.22 and a debt-to-equity ratio of 1.29.

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

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Hedge Funds Weigh In On DXP Enterprises

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

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).