BidaskClub Upgrades DXP Enterprises (DXPE) to “Buy”

DXP Enterprises (NASDAQ:DXPE) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Separately, Zacks Investment Research downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. DXP Enterprises presently has a consensus rating of “Hold” and a consensus price target of $42.00.

Shares of DXP Enterprises (NASDAQ:DXPE) traded up $0.61 during mid-day trading on Wednesday, reaching $29.61. 59,800 shares of the company traded hands, compared to its average volume of 80,633. DXP Enterprises has a 12-month low of $24.86 and a 12-month high of $42.00. The company has a market cap of $525.41, a P/E ratio of 30.21 and a beta of 2.64. The company has a quick ratio of 1.79, a current ratio of 2.51 and a debt-to-equity ratio of 0.91.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Thursday, November 2nd. The industrial products company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.06). DXP Enterprises had a return on equity of 6.87% and a net margin of 1.83%. The company had revenue of $251.90 million during the quarter, compared to the consensus estimate of $250.42 million. During the same period in the prior year, the firm posted $0.02 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. equities research analysts predict that DXP Enterprises will post 0.67 earnings per share for the current year.

In related news, insider Todd Hamlin sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $29.68, for a total transaction of $74,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David R. Little sold 13,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $29.50, for a total transaction of $398,250.00. Following the transaction, the chief executive officer now owns 1,368,214 shares of the company’s stock, valued at approximately $40,362,313. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,200 shares of company stock valued at $1,010,218. 11.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its holdings in DXP Enterprises by 9.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 49,779 shares of the industrial products company’s stock valued at $1,568,000 after buying an additional 4,348 shares during the last quarter. Algert Global LLC raised its stake in shares of DXP Enterprises by 711.1% in the third quarter. Algert Global LLC now owns 68,292 shares of the industrial products company’s stock worth $2,151,000 after buying an additional 59,872 shares during the period. California Public Employees Retirement System raised its stake in shares of DXP Enterprises by 8.3% in the third quarter. California Public Employees Retirement System now owns 63,368 shares of the industrial products company’s stock worth $1,995,000 after buying an additional 4,868 shares during the period. Cornerstone Capital Management Holdings LLC. raised its stake in shares of DXP Enterprises by 27.3% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 82,561 shares of the industrial products company’s stock worth $2,599,000 after buying an additional 17,700 shares during the period. Finally, 22NW LP raised its stake in shares of DXP Enterprises by 378.6% in the third quarter. 22NW LP now owns 35,774 shares of the industrial products company’s stock worth $1,127,000 after buying an additional 28,300 shares during the period. Hedge funds and other institutional investors own 74.25% of the company’s stock.

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DXP Enterprises Company Profile

DXP Enterprises, Inc (DXP) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers. The Company operates through three segments: Service Centers, Supply Chain Services and Innovative Pumping Solutions. The Service Centers segment provides MRO products, equipment and services, including technical expertise and logistics capabilities to industrial customers.

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