DXP Enterprises (DXPE) Stock Rating Lowered by TheStreet

TheStreet cut shares of DXP Enterprises (NASDAQ:DXPE) from a b rating to a c+ rating in a report released on Wednesday, TheStreetRatingsTable reports.

A number of other equities research analysts have also weighed in on the company. Sidoti lowered their price objective on DXP Enterprises from $61.00 to $52.00 and set a buy rating for the company in a research note on Tuesday, February 26th. BidaskClub upgraded DXP Enterprises from a sell rating to a hold rating in a research note on Tuesday, April 9th. Jefferies Financial Group started coverage on DXP Enterprises in a report on Thursday, April 25th. They set a hold rating and a $47.00 target price on the stock. ValuEngine downgraded DXP Enterprises from a buy rating to a hold rating in a report on Tuesday, January 29th. Finally, Zacks Investment Research upgraded DXP Enterprises from a hold rating to a buy rating and set a $37.00 target price on the stock in a research report on Thursday, February 7th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $48.00.

Shares of NASDAQ DXPE opened at $35.03 on Wednesday. DXP Enterprises has a fifty-two week low of $26.95 and a fifty-two week high of $49.50. The company has a quick ratio of 1.71, a current ratio of 2.48 and a debt-to-equity ratio of 0.91. The company has a market cap of $628.57 million, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 0.87 and a beta of 2.49.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. DXP Enterprises had a return on equity of 12.59% and a net margin of 3.09%. The firm had revenue of $311.20 million during the quarter, compared to analyst estimates of $310.87 million. During the same quarter last year, the firm earned $0.24 EPS. DXP Enterprises’s quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts expect that DXP Enterprises will post 2.36 earnings per share for the current fiscal year.

In other news, VP Kent Nee Hung Yee sold 7,500 shares of DXP Enterprises stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $40.32, for a total transaction of $302,400.00. Following the transaction, the vice president now directly owns 29,146 shares in the company, valued at approximately $1,175,166.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.20% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of DXP Enterprises by 345.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 940 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 729 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of DXP Enterprises by 100.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,000 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 500 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in shares of DXP Enterprises in the 4th quarter worth approximately $28,000. Oppenheimer Asset Management Inc. acquired a new position in shares of DXP Enterprises in the 4th quarter worth approximately $37,000. Finally, Quantamental Technologies LLC acquired a new position in shares of DXP Enterprises in the 4th quarter worth approximately $38,000. Institutional investors own 78.85% of the company’s stock.

About DXP Enterprises

DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates in three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.

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