DXP Enterprises (NASDAQ:DXPE) Hits New 12-Month High – Here’s What Happened

DXP Enterprises, Inc. (NASDAQ:DXPE)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $82.50 and last traded at $82.38, with a volume of 24744 shares changing hands. The stock had previously closed at $81.69.

Analysts Set New Price Targets

Several analysts have recently weighed in on DXPE shares. StockNews.com cut DXP Enterprises from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Stephens boosted their price target on DXP Enterprises from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th.

DXP Enterprises Trading Up 1.3 %

The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78. The stock has a market capitalization of $1.30 billion, a PE ratio of 21.33 and a beta of 1.70. The stock’s 50 day simple moving average is $67.79 and its two-hundred day simple moving average is $56.24.

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

Insiders Place Their Bets

In other DXP Enterprises news, insider Christopher T. Gregory sold 1,000 shares of the company’s stock in a transaction that occurred on 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 owns 29,606 shares of the company’s stock, valued at $2,164,198.60. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

A number of institutional investors have recently made changes to their positions in the business. Innealta Capital LLC purchased a new position in shares of DXP Enterprises in the second quarter worth about $29,000. Quantbot Technologies LP bought a new stake in DXP Enterprises in the third quarter valued at approximately $41,000. Quest Partners LLC boosted 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 purchasing an additional 419 shares during the period. SG Americas Securities LLC bought a new position in shares of DXP Enterprises in the third quarter worth approximately $197,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of 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 worth $189,000 after buying an additional 1,174 shares during the period. Hedge funds and other institutional investors 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).