DXP Enterprises (NASDAQ:DXPE) Releases Earnings Results, Beats Estimates By $0.08 EPS

DXP Enterprises (NASDAQ:DXPE) released its earnings results on Tuesday. The industrial products company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.08, Bloomberg Earnings reports. DXP Enterprises had a net margin of 3.09% and a return on equity of 12.59%. The firm had revenue of $333.30 million during the quarter, compared to the consensus estimate of $331.07 million. During the same period in the prior year, the firm earned $0.61 EPS. The company’s revenue was up 7.1% compared to the same quarter last year.

DXPE opened at $31.52 on Wednesday. The business has a 50 day simple moving average of $34.56. The company has a market cap of $548.59 million, a P/E ratio of 16.25, a PEG ratio of 0.77 and a beta of 2.65. DXP Enterprises has a 12 month low of $26.95 and a 12 month high of $49.50. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.71 and a current ratio of 2.48.

A number of research firms have recently weighed in on DXPE. Stephens set a $47.00 target price on shares of DXP Enterprises and gave the company a “buy” rating in a research report on Wednesday, May 8th. Zacks Investment Research downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Monday. BidaskClub raised shares of DXP Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. ValuEngine downgraded shares of DXP Enterprises from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Finally, TheStreet downgraded shares of DXP Enterprises from a “b” rating to a “c+” rating in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $47.00.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its holdings in DXP Enterprises by 6.2% in the 4th quarter. Millennium Management LLC now owns 132,083 shares of the industrial products company’s stock worth $3,677,000 after buying an additional 7,700 shares during the period. Principal Financial Group Inc. boosted its holdings in DXP Enterprises by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 129,805 shares of the industrial products company’s stock worth $3,614,000 after buying an additional 2,051 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in DXP Enterprises by 1.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 23,937 shares of the industrial products company’s stock worth $666,000 after buying an additional 317 shares during the period. Bank of New York Mellon Corp boosted its holdings in DXP Enterprises by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 189,623 shares of the industrial products company’s stock worth $5,279,000 after buying an additional 1,076 shares during the period. Finally, Texas Permanent School Fund boosted 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 buying an additional 393 shares during the period. 79.06% of the stock is 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 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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Earnings History for DXP Enterprises (NASDAQ:DXPE)

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