DXP Enterprises (NASDAQ:DXPE) Upgraded at StockNews.com

DXP Enterprises (NASDAQ:DXPE - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a report released on Tuesday.

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

DXP Enterprises Stock Performance

NASDAQ:DXPE traded up $5.82 during mid-day trading on Tuesday, hitting $82.49. 313,593 shares of the stock were exchanged, compared to its average volume of 152,604. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 21.26 and a beta of 1.66. The firm's 50-day simple moving average is $94.25 and its 200 day simple moving average is $73.36. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22. DXP Enterprises has a fifty-two week low of $43.25 and a fifty-two week high of $107.06.

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

Hedge Funds Weigh In On DXP Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DXPE. Global Retirement Partners LLC raised its holdings in DXP Enterprises by 2,220.0% in the 4th 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 in the last quarter. Quantbot Technologies LP acquired a new position in shares of DXP Enterprises during the 3rd quarter worth $41,000. Smartleaf Asset Management LLC raised its holdings in shares of DXP Enterprises by 3,150.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company's stock worth $43,000 after buying an additional 504 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of DXP Enterprises during the 4th quarter worth $159,000. Finally, Hsbc Holdings PLC acquired a new position in shares of DXP Enterprises during the 4th quarter worth $208,000. 74.82% of the stock is owned by institutional investors and hedge funds.

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).

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