DXP Enterprises (NASDAQ:DXPE) Rating Increased 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 issued on Wednesday morning, Zacks.com reports. They currently have $42.00 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. “

DXPE has been the subject of a number of other research reports. ValuEngine upgraded Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Jefferies Financial Group boosted their price objective on ServiceNow from $242.00 to $285.00 and gave the company a buy rating in a research report on Thursday, April 25th. BidaskClub lowered Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. Stephens set a $198.00 price objective on HubSpot and gave the company a buy rating in a research report on Wednesday, May 8th. Finally, TheStreet lowered YRC Worldwide from a c rating to a d+ rating in a research report on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $47.00.

NASDAQ:DXPE opened at $33.87 on Wednesday. DXP Enterprises has a 12-month low of $26.95 and a 12-month high of $49.50. The firm has a market cap of $593.49 million, a price-to-earnings ratio of 17.46, a P/E/G ratio of 0.81 and a beta of 2.66. 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 firm’s 50 day moving average is $35.28.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.40. DXP Enterprises had a return on equity of 12.59% and a net margin of 3.09%. The business had revenue of $311.20 million during the quarter, compared to analyst estimates of $310.87 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, sell-side analysts forecast that DXP Enterprises will post 2.37 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in DXPE. Nantahala Capital Management LLC boosted its position in DXP Enterprises by 18.7% during the 4th quarter. Nantahala Capital Management LLC now owns 1,147,964 shares of the industrial products company’s stock worth $31,959,000 after acquiring an additional 180,936 shares during the period. Marshall Wace LLP acquired a new position in DXP Enterprises during the 1st quarter worth $1,721,000. BlackRock Inc. boosted its position in DXP Enterprises by 1.5% during the 4th quarter. BlackRock Inc. now owns 2,410,172 shares of the industrial products company’s stock worth $67,097,000 after acquiring an additional 35,801 shares during the period. Municipal Employees Retirement System of Michigan acquired a new position in DXP Enterprises during the 4th quarter worth $781,000. Finally, South Dakota Investment Council boosted its position in DXP Enterprises by 139.8% during the 1st quarter. South Dakota Investment Council now owns 43,410 shares of the industrial products company’s stock worth $1,690,000 after acquiring an additional 25,310 shares during the period. Institutional investors own 79.06% 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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