Zacks Investment Research upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a strong sell rating to a hold rating in a report issued on Tuesday, January 23rd.
According to Zacks, “DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada, Mexico and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production (MROP) services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP’s breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. “
Separately, BidaskClub raised DXP Enterprises from a hold rating to a buy rating in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $44.00.
DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Thursday, November 2nd. The industrial products company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.06). The company had revenue of $251.90 million during the quarter, compared to the consensus estimate of $250.42 million. DXP Enterprises had a return on equity of 6.87% and a net margin of 1.83%. DXP Enterprises’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.02 earnings per share. sell-side analysts expect that DXP Enterprises will post 0.67 earnings per share for the current year.
In other DXP Enterprises news, CEO David R. Little sold 13,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $29.50, for a total transaction of $398,250.00. Following the completion of the transaction, the chief executive officer now owns 1,368,214 shares in the company, valued at $40,362,313. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kent Nee Hung Yee sold 2,200 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $29.69, for a total value of $65,318.00. Following the transaction, the insider now owns 40,984 shares of the company’s stock, valued at approximately $1,216,814.96. The disclosure for this sale can be found here. Insiders sold 34,200 shares of company stock worth $1,010,218 over the last ninety days. Insiders own 11.30% of the company’s stock.
Several large investors have recently made changes to their positions in DXPE. American Century Companies Inc. boosted its position in shares of DXP Enterprises by 236.0% during the third quarter. American Century Companies Inc. now owns 560,641 shares of the industrial products company’s stock valued at $17,655,000 after buying an additional 393,778 shares during the period. Hood River Capital Management LLC boosted its position in shares of DXP Enterprises by 40.7% during the fourth quarter. Hood River Capital Management LLC now owns 492,847 shares of the industrial products company’s stock valued at $14,573,000 after buying an additional 142,630 shares during the period. Ameriprise Financial Inc. boosted its position in shares of DXP Enterprises by 94.6% during the third quarter. Ameriprise Financial Inc. now owns 265,256 shares of the industrial products company’s stock valued at $8,353,000 after buying an additional 128,946 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of DXP Enterprises by 15.6% during the second quarter. Dimensional Fund Advisors LP now owns 831,305 shares of the industrial products company’s stock valued at $28,680,000 after buying an additional 111,879 shares during the period. Finally, Frontier Capital Management Co. LLC raised its stake in shares of DXP Enterprises by 7.6% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,089,679 shares of the industrial products company’s stock valued at $32,222,000 after acquiring an additional 77,365 shares in the last quarter. Institutional investors and hedge funds own 74.57% 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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