DXP Enterprises (NASDAQ:DXPE) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of DXP Enterprises (NASDAQ:DXPE) from a strong-buy rating to a buy rating in a report released on Sunday morning,Wall Street Zen reports.

A number of other analysts also recently issued reports on DXPE. Stephens raised their target price on DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings upgraded DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 3rd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, DXP Enterprises presently has a consensus rating of “Moderate Buy” and an average target price of $187.00.

DXP Enterprises Stock Up 0.0%

DXPE opened at $179.84 on Friday. DXP Enterprises has a twelve month low of $84.04 and a twelve month high of $208.00. The company’s 50-day moving average price is $178.85 and its two-hundred day moving average price is $161.48. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 31.66 and a beta of 1.02. The company has a quick ratio of 2.58, a current ratio of 2.99 and a debt-to-equity ratio of 1.51.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.17. DXP Enterprises had a net margin of 4.35% and a return on equity of 18.51%. The company had revenue of $576.46 million for the quarter, compared to analysts’ expectations of $543.00 million.

Institutional Investors Weigh In On DXP Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the stock. WINTON GROUP Ltd lifted its holdings in shares of DXP Enterprises by 2.9% in the second quarter. WINTON GROUP Ltd now owns 6,786 shares of the industrial products company’s stock worth $1,145,000 after buying an additional 190 shares in the last quarter. Engineers Gate Manager LP grew its stake in DXP Enterprises by 68.3% during the second quarter. Engineers Gate Manager LP now owns 11,429 shares of the industrial products company’s stock valued at $1,929,000 after acquiring an additional 4,639 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in DXP Enterprises during the second quarter valued at approximately $126,000. Nykredit A S bought a new stake in DXP Enterprises during the 2nd quarter worth approximately $36,000. Finally, Odyssean LLC increased its holdings in DXP Enterprises by 96.3% during the 2nd quarter. Odyssean LLC now owns 17,000 shares of the industrial products company’s stock worth $2,869,000 after acquiring an additional 8,340 shares during the period. 74.82% of the stock is currently owned by institutional investors.

About DXP Enterprises

DXP Enterprises, Inc is an industrial distribution and services company that provides products and technical support to customers in a range of manufacturing, energy, mining, municipal water and wastewater, and other industrial markets. The company helps customers maintain and improve plant operations by supplying equipment, replacement parts, and related services.

Its offerings include rotating equipment such as pumps, compressors, and motors; power-transmission products; industrial bearings; hose and fluid-handling products; safety supplies; and other maintenance, repair, operating and production (MROP) products.