DXP Enterprises (DXPE) Downgraded by BidaskClub to Strong Sell

BidaskClub downgraded shares of DXP Enterprises (NASDAQ:DXPE) from a sell rating to a strong sell rating in a research note issued to investors on Monday morning, BidAskClub reports.

Several other research firms have also recently weighed in on DXPE. TheStreet cut DXP Enterprises from a b rating to a c+ rating in a research report on Wednesday, May 15th. Jefferies Financial Group started coverage on DXP Enterprises in a research report on Thursday, April 25th. They issued a hold rating and a $47.00 price objective for the company. Zacks Investment Research raised DXP Enterprises from a hold rating to a buy rating and set a $37.00 price objective for the company in a research report on Thursday, February 7th. ValuEngine cut DXP Enterprises from a hold rating to a sell rating in a research report on Saturday, May 18th. Finally, Sidoti reduced their price objective on DXP Enterprises from $61.00 to $52.00 and set a buy rating for the company in a research report on Tuesday, February 26th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $48.00.

Shares of DXP Enterprises stock opened at $35.25 on Monday. The company has a market cap of $628.57 million, a price-to-earnings ratio of 17.26, a P/E/G ratio of 0.87 and a beta of 2.49. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.48 and a quick ratio of 1.71. DXP Enterprises has a 12-month low of $26.95 and a 12-month high of $49.50.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Tuesday, May 7th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. The firm had revenue of $311.20 million during the quarter, compared to analysts’ expectations of $310.87 million. DXP Enterprises had a return on equity of 12.59% and a net margin of 3.09%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. As a group, equities analysts predict that DXP Enterprises will post 2.36 EPS for the current fiscal year.

In other news, insider Kent Nee Hung Yee sold 14,960 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $40.52, for a total value of $606,179.20. Following the completion of the sale, the insider now directly owns 29,146 shares of the company’s stock, valued at $1,180,995.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.20% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of DXP Enterprises by 345.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 940 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 729 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of DXP Enterprises by 100.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,000 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 500 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in shares of DXP Enterprises in the fourth quarter valued at $28,000. Oppenheimer Asset Management Inc. acquired a new position in shares of DXP Enterprises in the fourth quarter valued at $37,000. Finally, Quantamental Technologies LLC acquired a new position in shares of DXP Enterprises in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 78.31% 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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