DXP Enterprises (NASDAQ:DXPE) Downgraded by Wall Street Zen to “Buy”

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

DXPE has been the topic of several other research reports. Weiss Ratings cut shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Stephens raised their price objective on shares of DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, DXP Enterprises presently has an average rating of “Moderate Buy” and an average price target of $187.00.

DXP Enterprises Stock Performance

NASDAQ DXPE opened at $174.46 on Friday. The company has a current ratio of 2.99, a quick ratio of 2.58 and a debt-to-equity ratio of 1.51. The company has a fifty day simple moving average of $182.21 and a 200 day simple moving average of $161.03. The company has a market cap of $2.71 billion, a P/E ratio of 30.71 and a beta of 1.03. DXP Enterprises has a 12-month low of $84.04 and a 12-month high of $208.00.

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

Hedge Funds Weigh In On DXP Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new position in DXP Enterprises in the 2nd quarter worth approximately $13,566,000. Congress Asset Management Co. grew its stake in shares of DXP Enterprises by 21.7% during the third quarter. Congress Asset Management Co. now owns 64,015 shares of the industrial products company’s stock valued at $11,600,000 after buying an additional 11,423 shares during the last quarter. First Trust Advisors LP grew its position in DXP Enterprises by 1.1% during the 1st quarter. First Trust Advisors LP now owns 68,634 shares of the industrial products company’s stock worth $9,590,000 after acquiring an additional 756 shares during the last quarter. Globeflex Capital L P bought a new position in shares of DXP Enterprises in the second quarter worth approximately $6,507,000. Finally, SummerHaven Investment Management LLC grew its holdings in DXP Enterprises by 110.6% in the 3rd quarter. SummerHaven Investment Management LLC now owns 17,271 shares of the industrial products company’s stock worth $3,130,000 after acquiring an additional 9,070 shares during the last quarter. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

DXP Enterprises Company Profile

DXP Enterprises, Inc is an industrial distribution and services company headquartered in Houston, Texas. The company supplies maintenance, repair and operating products used by industrial, commercial and government customers, with an emphasis on rotating equipment, fluid handling and related industrial applications.

Its product offerings include pumps, valves, bearings, power-transmission components, hose and rubber products, industrial supplies, safety equipment and other maintenance products.