DXP Enterprises, Inc. (NASDAQ:DXPE) Short Interest Update

DXP Enterprises, Inc. (NASDAQ:DXPE) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 693,900 shares, a growth of 7.0% from the November 30th total of 648,500 shares. Based on an average trading volume of 156,500 shares, the days-to-cover ratio is currently 4.4 days. Currently, 5.5% of the shares of the stock are short sold.

DXP Enterprises Stock Performance

Shares of DXP Enterprises stock traded up $3.37 on Thursday, reaching $85.99. The stock had a trading volume of 84,414 shares, compared to its average volume of 119,067. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22. The business’s 50-day moving average price is $70.99 and its two-hundred day moving average price is $57.45. The stock has a market cap of $1.35 billion, a P/E ratio of 22.16 and a beta of 1.70. DXP Enterprises has a fifty-two week low of $30.08 and a fifty-two week high of $86.50.

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 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 for the quarter. During the same period in the prior year, the business posted $0.93 earnings per share. On average, sell-side analysts forecast that DXP Enterprises will post 4.07 EPS for the current year.

Insider Buying and Selling at DXP Enterprises

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 shares were sold at an average price of $73.10, for a total value of $73,100.00. Following the transaction, the insider now owns 29,606 shares in the company, valued at approximately $2,164,198.60. This represents a 3.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 22.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DXP Enterprises

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in DXP Enterprises by 781.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,242 shares of the industrial products company’s stock valued at $332,000 after purchasing an additional 6,420 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 valued at $189,000 after buying an additional 1,174 shares during the last quarter. Privium Fund Management UK Ltd bought a new stake in shares of DXP Enterprises in the second quarter valued at about $209,000. Acadian Asset Management LLC grew its position in DXP Enterprises by 5.5% during the second quarter. Acadian Asset Management LLC now owns 101,058 shares of the industrial products company’s stock worth $4,630,000 after buying an additional 5,311 shares in the last quarter. Finally, LSV Asset Management increased its stake in DXP Enterprises by 63.1% during the second quarter. LSV Asset Management now owns 90,495 shares of the industrial products company’s stock valued at $4,148,000 after acquiring an additional 35,011 shares during the period. 74.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stephens increased 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. StockNews.com downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

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).