DXP Enterprises (DXPE) Rating Lowered to Hold at ValuEngine

DXP Enterprises (NASDAQ:DXPE) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday.

A number of other research analysts have also commented on the company. BidaskClub lowered DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, September 14th. Zacks Investment Research lowered DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Monday, August 6th.

Shares of DXPE stock opened at $35.92 on Thursday. DXP Enterprises has a 12 month low of $24.89 and a 12 month high of $49.50. The company has a market cap of $639.15 million, a PE ratio of 41.99 and a beta of 2.56. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.57 and a quick ratio of 1.74.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.36. DXP Enterprises had a return on equity of 8.83% and a net margin of 2.31%. The company had revenue of $311.23 million during the quarter, compared to analyst estimates of $287.10 million. Equities analysts anticipate that DXP Enterprises will post 1.5 earnings per share for the current fiscal year.

In related news, insider Kent Nee Hung Yee sold 5,000 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $43.35, for a total value of $216,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David C. Vinson sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $48.00, for a total value of $192,000.00. Following the completion of the transaction, the vice president now owns 6,563 shares of the company’s stock, valued at $315,024. The disclosure for this sale can be found here. Insiders sold 59,000 shares of company stock valued at $2,829,250 over the last 90 days. 9.20% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Piedmont Investment Advisors LLC acquired a new position in shares of DXP Enterprises in the second quarter valued at $141,000. Federated Investors Inc. PA grew its position in DXP Enterprises by 9.0% in the second quarter. Federated Investors Inc. PA now owns 49,835 shares of the industrial products company’s stock valued at $1,904,000 after acquiring an additional 4,126 shares during the period. Hood River Capital Management LLC grew its position in DXP Enterprises by 8.6% in the second quarter. Hood River Capital Management LLC now owns 619,635 shares of the industrial products company’s stock valued at $23,670,000 after acquiring an additional 49,196 shares during the period. Van Berkom & Associates Inc. grew its position in DXP Enterprises by 0.7% in the second quarter. Van Berkom & Associates Inc. now owns 1,030,415 shares of the industrial products company’s stock valued at $39,362,000 after acquiring an additional 7,348 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in DXP Enterprises by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 990,287 shares of the industrial products company’s stock valued at $37,828,000 after acquiring an additional 6,521 shares during the period. Institutional investors and hedge funds own 76.76% of the company’s stock.

DXP Enterprises Company Profile

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 through 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.

Recommended Story: Understanding Average Daily Trade Volume

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for DXP Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DXP Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply