Stephens Issues Positive Forecast for DXP Enterprises (NASDAQ:DXPE) Stock Price

DXP Enterprises (NASDAQ:DXPE) had its price target raised by Stephens from $65.00 to $75.00 in a research report report published on Thursday morning,Benzinga reports. Stephens currently has an overweight rating on the industrial products company’s stock.

DXP Enterprises Trading Down 1.1 %

DXP Enterprises stock traded down $0.79 during midday trading on Thursday, reaching $71.10. The stock had a trading volume of 222,064 shares, compared to its average volume of 105,576. The firm’s fifty day simple moving average is $52.41 and its two-hundred day simple moving average is $50.49. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.39 and a quick ratio of 1.92. DXP Enterprises has a twelve month low of $28.82 and a twelve month high of $73.75. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 18.31 and a beta of 1.60.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Monday, November 4th. The industrial products company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. DXP Enterprises had a return on equity of 19.01% and a net margin of 3.75%. The firm had revenue of $472.94 million for the quarter. During the same period in the previous year, the firm posted $0.93 earnings per share. Equities analysts anticipate that DXP Enterprises will post 3.56 EPS for the current fiscal year.

Insider Activity at DXP Enterprises

In other DXP Enterprises news, CMO Paz Maestas sold 2,500 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.00, for a total transaction of $122,500.00. Following the completion of the sale, the chief marketing officer now directly owns 619,367 shares in the company, valued at $30,348,983. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of DXPE. Quest Partners LLC lifted its stake in shares of DXP Enterprises by 24.8% during the second quarter. Quest Partners LLC now owns 2,109 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 419 shares during the period. Innealta Capital LLC bought a new position in DXP Enterprises during the 2nd quarter worth approximately $29,000. Federated Hermes Inc. grew its holdings in DXP Enterprises by 8.8% during the second quarter. Federated Hermes Inc. now owns 10,962 shares of the industrial products company’s stock valued at $502,000 after purchasing an additional 888 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in DXP Enterprises by 39.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,113 shares of the industrial products company’s stock valued at $189,000 after purchasing an additional 1,174 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of DXP Enterprises by 4.4% during the second quarter. Public Sector Pension Investment Board now owns 28,735 shares of the industrial products company’s stock worth $1,317,000 after purchasing an additional 1,208 shares in the last quarter. 74.82% of the stock is owned by institutional investors and hedge funds.

About DXP Enterprises

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).