DXP Enterprises (NASDAQ:DXPE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $48.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.01% from the stock’s previous close.
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. “
A number of other brokerages also recently commented on DXPE. BidaskClub upgraded shares of DXP Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 25th. ValuEngine downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th.
DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.09. DXP Enterprises had a return on equity of 8.83% and a net margin of 2.31%. The firm had revenue of $308.00 million for the quarter, compared to analyst estimates of $301.81 million. During the same quarter last year, the company posted $0.16 earnings per share. The business’s revenue was up 22.3% on a year-over-year basis. As a group, analysts anticipate that DXP Enterprises will post 1.5 earnings per share for the current year.
In other news, CEO David R. Little sold 50,000 shares of DXP Enterprises stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $48.41, for a total transaction of $2,420,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David C. Vinson sold 4,000 shares of DXP Enterprises stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $48.00, for a total transaction of $192,000.00. Following the sale, 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. In the last 90 days, insiders sold 59,000 shares of company stock valued at $2,829,250. 9.20% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of DXPE. BlackRock Inc. lifted its position in shares of DXP Enterprises by 14.0% during the 2nd quarter. BlackRock Inc. now owns 2,295,941 shares of the industrial products company’s stock valued at $87,706,000 after acquiring an additional 281,381 shares during the period. Nantahala Capital Management LLC lifted its position in shares of DXP Enterprises by 21.3% during the 2nd quarter. Nantahala Capital Management LLC now owns 773,900 shares of the industrial products company’s stock valued at $29,563,000 after acquiring an additional 135,950 shares during the period. Millennium Management LLC acquired a new stake in shares of DXP Enterprises during the 2nd quarter valued at approximately $2,864,000. King Luther Capital Management Corp lifted its position in shares of DXP Enterprises by 15.9% during the 2nd quarter. King Luther Capital Management Corp now owns 519,060 shares of the industrial products company’s stock valued at $19,828,000 after acquiring an additional 71,350 shares during the period. Finally, Hood River Capital Management LLC lifted its position in shares of DXP Enterprises by 8.6% during the 2nd 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. Institutional investors own 76.63% 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.
Further Reading: Return on Investment (ROI)
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