DXP Enterprises (NASDAQ:DXPE) Lowered to “Hold” at Zacks Investment Research

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Zacks Investment Research lowered shares of DXP Enterprises (NASDAQ:DXPE) from a buy rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

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. “

Several other research analysts also recently commented on DXPE. Sidoti downgraded shares of DXP Enterprises from a buy rating to a neutral rating in a report on Thursday, July 11th. BidaskClub upgraded shares of DXP Enterprises from a sell rating to a hold rating in a report on Saturday, August 31st. Finally, ValuEngine downgraded shares of DXP Enterprises from a hold rating to a sell rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $47.00.

Shares of DXPE opened at $36.37 on Tuesday. The company has a market capitalization of $640.38 million, a PE ratio of 16.61, a price-to-earnings-growth ratio of 0.86 and a beta of 2.62. DXP Enterprises has a one year low of $26.95 and a one year high of $45.66. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.56 and a quick ratio of 1.75. The company’s fifty day moving average price is $32.76 and its 200 day moving average price is $36.41.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. The firm had revenue of $333.30 million for the quarter, compared to the consensus estimate of $331.07 million. DXP Enterprises had a net margin of 3.19% and a return on equity of 12.86%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. Analysts anticipate that DXP Enterprises will post 2.4 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund raised its holdings in DXP Enterprises by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 10,856 shares of the industrial products company’s stock worth $423,000 after acquiring an additional 393 shares during the period. Comerica Bank grew its position in DXP Enterprises by 2.9% in the 1st quarter. Comerica Bank now owns 15,789 shares of the industrial products company’s stock worth $685,000 after purchasing an additional 452 shares during the last quarter. Royal Bank of Canada grew its position in DXP Enterprises by 8.6% in the 2nd quarter. Royal Bank of Canada now owns 5,956 shares of the industrial products company’s stock worth $226,000 after purchasing an additional 470 shares during the last quarter. Nisa Investment Advisors LLC grew its position in DXP Enterprises by 192.3% in 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 last quarter. Finally, Swiss National Bank grew its position in DXP Enterprises by 2.0% in the 2nd quarter. Swiss National Bank now owns 31,000 shares of the industrial products company’s stock worth $1,175,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 78.84% 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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