DXP Enterprises (DXPE) Raised to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a hold rating to a buy rating in a report released on Monday morning. They currently have $36.00 price objective on the industrial products company’s stock.

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. “

Several other equities research analysts have also commented on DXPE. BidaskClub lowered shares of DXP Enterprises from a sell rating to a strong sell rating in a research report on Tuesday, October 23rd. ValuEngine lowered shares of DXP Enterprises from a buy rating to a hold rating in a research report on Thursday, October 18th.

DXP Enterprises stock opened at $31.78 on Monday. DXP Enterprises has a 52 week low of $24.89 and a 52 week high of $49.50. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.74 and a current ratio of 2.57. The stock has a market capitalization of $538.66 million, a P/E ratio of 36.95 and a beta of 2.56.

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

In other news, VP David C. Vinson sold 4,000 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $48.00, for a total transaction of $192,000.00. Following the transaction, the vice president now directly owns 6,563 shares in the company, valued at approximately $315,024. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David R. Little sold 50,000 shares of the stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $48.41, for a total transaction of $2,420,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,000 shares of company stock worth $2,829,250. Insiders own 9.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in DXPE. Piedmont Investment Advisors LLC acquired a new stake in DXP Enterprises during the 2nd quarter worth approximately $141,000. SG Americas Securities LLC increased its position in DXP Enterprises by 65.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,684 shares of the industrial products company’s stock worth $179,000 after purchasing an additional 1,845 shares in the last quarter. Barclays PLC increased its position in DXP Enterprises by 159.9% during the 1st quarter. Barclays PLC now owns 6,495 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 3,996 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in DXP Enterprises during the 2nd quarter worth approximately $328,000. Finally, Engineers Gate Manager LP acquired a new stake in DXP Enterprises during the 2nd quarter worth approximately $379,000. Institutional investors and hedge funds own 76.76% 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 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.

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