DXP Enterprises (NASDAQ:DXPE) Sets New 12-Month High – Here’s Why

DXP Enterprises, Inc. (NASDAQ:DXPE)’s share price hit a new 52-week high on Friday . The company traded as high as $87.30 and last traded at $87.30, with a volume of 2332 shares changing hands. The stock had previously closed at $84.75.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. StockNews.com downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Stephens upped their price objective on DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th.

DXP Enterprises Stock Up 6.3 %

The business’s 50 day simple moving average is $75.15 and its 200 day simple moving average is $58.91. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $1.41 billion, a PE ratio of 23.22 and a beta of 1.67.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Monday, November 4th. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The company had revenue of $472.94 million during the quarter. During the same quarter in the prior year, the business posted $0.93 EPS. On average, equities research analysts forecast that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Insider Transactions at DXP Enterprises

In other DXP Enterprises news, insider Christopher T. Gregory sold 1,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $73.10, for a total value of $73,100.00. Following the completion of the sale, the insider now directly owns 29,606 shares in the company, valued at approximately $2,164,198.60. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 22.40% of the company’s stock.

Institutional Trading of DXP Enterprises

A number of institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in DXP Enterprises during the third quarter worth about $41,000. Quest Partners LLC raised its holdings in DXP Enterprises by 24.8% in the 2nd quarter. Quest Partners LLC now owns 2,109 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 419 shares during the period. SG Americas Securities LLC purchased a new position in DXP Enterprises during the third quarter worth approximately $197,000. Jane Street Group LLC grew its holdings in DXP Enterprises by 9.6% in the third quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 517 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in shares of DXP Enterprises in the second quarter valued at approximately $437,000. 74.82% of the stock is currently owned by institutional investors and hedge funds.

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).