DXP Enterprises (DXPE) Downgraded to C+ at TheStreet

DXP Enterprises (NASDAQ:DXPE) was downgraded by equities researchers at TheStreet from a “b” rating to a “c+” rating in a note issued to investors on Wednesday, TheStreetRatingsTable reports.

Several other research firms have also recently issued reports on DXPE. Zacks Investment Research cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. Stephens set a $47.00 price target on shares of DXP Enterprises and gave the company a “buy” rating in a report on Wednesday, May 8th. BidaskClub raised shares of DXP Enterprises from a “sell” rating to a “hold” rating in a report on Friday, March 1st. ValuEngine cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Finally, Sidoti cut their price target on shares of DXP Enterprises from $61.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, February 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. DXP Enterprises has an average rating of “Buy” and a consensus price target of $48.00.

Shares of NASDAQ DXPE traded down $0.33 during trading on Wednesday, reaching $35.40. 12,075 shares of the stock were exchanged, compared to its average volume of 69,488. DXP Enterprises has a twelve month low of $26.95 and a twelve month high of $49.50. The company has a current ratio of 2.48, a quick ratio of 1.71 and a debt-to-equity ratio of 0.91. The stock has a market cap of $628.39 million, a P/E ratio of 18.25, a PEG ratio of 0.87 and a beta of 2.49.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Tuesday, May 7th. The industrial products company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. DXP Enterprises had a net margin of 3.09% and a return on equity of 12.59%. The business had revenue of $311.20 million for the quarter, compared to analysts’ expectations of $310.87 million. During the same period in the previous year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts expect that DXP Enterprises will post 2.36 EPS for the current fiscal year.

In other DXP Enterprises news, VP Kent Nee Hung Yee sold 7,500 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $40.32, for a total transaction of $302,400.00. Following the completion of the sale, the vice president now owns 29,146 shares in the company, valued at $1,175,166.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.20% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in DXP Enterprises by 2.3% during the first quarter. BlackRock Inc. now owns 2,465,863 shares of the industrial products company’s stock valued at $95,971,000 after purchasing an additional 55,691 shares during the last quarter. Nantahala Capital Management LLC increased its stake in DXP Enterprises by 18.7% during the fourth quarter. Nantahala Capital Management LLC now owns 1,147,964 shares of the industrial products company’s stock valued at $31,959,000 after purchasing an additional 180,936 shares during the last quarter. Van Berkom & Associates Inc. increased its stake in DXP Enterprises by 3.8% during the first quarter. Van Berkom & Associates Inc. now owns 1,143,977 shares of the industrial products company’s stock valued at $44,524,000 after purchasing an additional 41,901 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in DXP Enterprises by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,021,041 shares of the industrial products company’s stock valued at $39,740,000 after purchasing an additional 10,858 shares during the last quarter. Finally, Vanguard Group Inc increased its stake in DXP Enterprises by 1.1% during the third quarter. Vanguard Group Inc now owns 939,221 shares of the industrial products company’s stock valued at $37,635,000 after purchasing an additional 10,555 shares during the last quarter. Hedge funds and other institutional investors own 78.85% 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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