DXP Enterprises (DXPE) Stock Rating Upgraded by Zacks Investment Research

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DXP Enterprises (NASDAQ:DXPE) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday. The brokerage currently has a $46.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.95% from the stock’s current price.

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. “

Other equities analysts have also issued research reports about the company. Sidoti reduced their target price on DXP Enterprises from $61.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, February 26th. ValuEngine downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, December 15th. BidaskClub raised DXP Enterprises from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 20th. TheStreet raised DXP Enterprises from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Finally, Stephens reaffirmed a “buy” rating and set a $49.00 price target on shares of DXP Enterprises in a research report on Wednesday, November 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $49.00.

Shares of DXPE stock opened at $40.37 on Wednesday. The firm has a market capitalization of $710.47 million, a P/E ratio of 20.81 and a beta of 2.46. The company has a quick ratio of 1.89, a current ratio of 2.69 and a debt-to-equity ratio of 0.77. DXP Enterprises has a 1 year low of $26.95 and a 1 year high of $49.50.

DXP Enterprises (NASDAQ:DXPE) last issued its earnings results on Thursday, March 7th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.20. The company had revenue of $311.01 million during the quarter, compared to analyst estimates of $301.70 million. DXP Enterprises had a return on equity of 12.11% and a net margin of 2.93%. Analysts forecast that DXP Enterprises will post 2.28 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew 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 purchasing an additional 35,801 shares during the period. Nantahala Capital Management LLC grew 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 purchasing an additional 180,936 shares during the period. Dimensional Fund Advisors LP grew its position in DXP Enterprises by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,010,183 shares of the industrial products company’s stock worth $28,124,000 after purchasing an additional 13,270 shares during the period. Vanguard Group Inc. grew its position in DXP Enterprises by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 939,221 shares of the industrial products company’s stock worth $37,635,000 after purchasing an additional 10,555 shares during the period. Finally, Vanguard Group Inc grew its position in DXP Enterprises by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 939,221 shares of the industrial products company’s stock worth $37,635,000 after purchasing an additional 10,555 shares during the period. 79.82% of the stock is currently owned by institutional investors.

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 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.

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