Sidoti Lowers DXP Enterprises (NASDAQ:DXPE) to Neutral

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Sidoti cut shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a neutral rating in a research note published on Thursday morning, Briefing.com Automated Import reports.

Several other research firms also recently issued reports on DXPE. TheStreet downgraded YRC Worldwide from a c rating to a d+ rating in a report on Wednesday, May 15th. BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a report on Tuesday, June 11th. ValuEngine upgraded Zogenix from a buy rating to a strong-buy rating in a 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 report on Thursday, April 25th. Finally, Zacks Investment Research downgraded ExlService from a hold rating to a sell rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $47.00.

DXPE stock opened at $33.87 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.48 and a quick ratio of 1.71. The stock has a market cap of $596.15 million, a P/E ratio of 16.36, a PEG ratio of 0.82 and a beta of 2.66. DXP Enterprises has a 12-month low of $26.95 and a 12-month high of $49.50. The company has a fifty day moving average price of $35.28.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC increased its holdings in DXP Enterprises by 192.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 760 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 500 shares during the period. Marshall Wace North America L.P. purchased a new stake in DXP Enterprises during the 1st quarter worth about $393,000. Marshall Wace LLP purchased a new stake in DXP Enterprises during the 1st quarter worth about $1,721,000. ClariVest Asset Management LLC increased its holdings in DXP Enterprises by 211.9% during the 1st quarter. ClariVest Asset Management LLC now owns 17,013 shares of the industrial products company’s stock worth $662,000 after purchasing an additional 11,559 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in DXP Enterprises by 29.2% during the 1st quarter. Acadian Asset Management LLC now owns 48,793 shares of the industrial products company’s stock worth $1,899,000 after purchasing an additional 11,035 shares during the period. Institutional investors own 79.06% 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 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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