DXP Enterprises (NASDAQ:DXPE) Sets New 12-Month High – Time to Buy?

DXP Enterprises, Inc. (NASDAQ:DXPE)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $73.75 and last traded at $73.45, with a volume of 49333 shares changing hands. The stock had previously closed at $71.33.

Wall Street Analyst Weigh In

Separately, Stephens upped their price objective on DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th.

DXP Enterprises Price Performance

The company has a quick ratio of 1.78, a current ratio of 2.22 and a debt-to-equity ratio of 1.29. The firm has a market cap of $1.14 billion, a PE ratio of 18.89 and a beta of 1.60. The stock has a 50 day moving average price of $56.51 and a two-hundred day moving average price of $51.87.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Monday, November 4th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. The business had revenue of $472.94 million for the quarter. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. During the same quarter in the previous year, the company posted $0.93 EPS. As a group, equities analysts expect that DXP Enterprises, Inc. will post 3.56 earnings per share for the current year.

Insider Buying and Selling

In related news, CMO Paz Maestas sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $53.21, for a total transaction of $106,420.00. Following the sale, the chief marketing officer now directly owns 617,367 shares of the company’s stock, valued at $32,850,098.07. This trade represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DXP Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in DXPE. Innealta Capital LLC acquired a new position in shares of DXP Enterprises during the 2nd quarter worth approximately $29,000. Quantbot Technologies LP purchased a new stake in DXP Enterprises in the 3rd quarter worth $41,000. Quest Partners LLC raised its position in DXP Enterprises by 24.8% during the second quarter. Quest Partners LLC now owns 2,109 shares of the industrial products company’s stock worth $97,000 after acquiring an additional 419 shares during the period. SG Americas Securities LLC purchased a new position in DXP Enterprises during the third quarter valued at $197,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of DXP Enterprises by 39.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,113 shares of the industrial products company’s stock worth $189,000 after purchasing an additional 1,174 shares in the last quarter. Institutional investors and hedge funds own 74.82% of the company’s stock.

DXP Enterprises Company Profile

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).