Key Points
- Director Joseph Mannes sold 1,500 shares of DXP Enterprises on March 9 at an average price of $137.95 for $206,925, reducing his stake by 9.7% to 13,964 shares valued at about $1.93 million.
- DXP reported a strong quarter with $1.39 EPS versus a $0.91 estimate and revenue of $527.39 million versus a $499.00 million estimate, signaling better-than-expected results.
- The stock has a market capitalization of about $2.17 billion, institutional ownership of roughly 74.8%, and a consensus analyst rating of Buy with a $154 price target.
DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) Director Joseph Mannes sold 1,500 shares of the company's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $137.95, for a total value of $206,925.00. Following the transaction, the director directly owned 13,964 shares of the company's stock, valued at approximately $1,926,333.80. The trade was a 9.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
DXP Enterprises Trading Up 1.8%
Shares of NASDAQ:DXPE opened at $140.12 on Wednesday. The business's 50 day moving average price is $133.05 and its 200-day moving average price is $119.52. DXP Enterprises, Inc. has a 1 year low of $67.68 and a 1 year high of $171.70. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 26.04 and a beta of 0.96. The company has a debt-to-equity ratio of 1.64, a current ratio of 3.34 and a quick ratio of 2.94.
DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.91 by $0.48. The company had revenue of $527.39 million during the quarter, compared to analyst estimates of $499.00 million. DXP Enterprises had a net margin of 4.40% and a return on equity of 18.83%. On average, equities research analysts forecast that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.
Institutional Investors Weigh In On DXP Enterprises
Large investors have recently modified their holdings of the business. Royal Bank of Canada raised its position in shares of DXP Enterprises by 29.4% in the first quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company's stock valued at $417,000 after buying an additional 1,153 shares during the last quarter. Millennium Management LLC grew its stake in DXP Enterprises by 661.5% during the 1st quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company's stock valued at $10,608,000 after acquiring an additional 112,021 shares in the last quarter. Jane Street Group LLC raised its holdings in DXP Enterprises by 433.8% in the 1st quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company's stock valued at $4,850,000 after acquiring an additional 47,909 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in DXP Enterprises by 23.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 21,345 shares of the industrial products company's stock valued at $1,871,000 after acquiring an additional 4,087 shares during the last quarter. Finally, Savant Capital LLC lifted its stake in DXP Enterprises by 10.6% in the 2nd quarter. Savant Capital LLC now owns 3,510 shares of the industrial products company's stock worth $308,000 after purchasing an additional 336 shares in the last quarter. Hedge funds and other institutional investors own 74.82% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently commented on DXPE shares. Loop Capital set a $154.00 target price on shares of DXP Enterprises in a research note on Monday, March 2nd. Weiss Ratings reiterated a "buy (b-)" rating on shares of DXP Enterprises in a report on Monday, December 29th. Finally, Wall Street Zen lowered DXP Enterprises from a "buy" rating to a "hold" rating in a research note on Saturday, November 15th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $154.00.
View Our Latest Report on DXP Enterprises
DXP Enterprises Company Profile
(
Get Free Report)
DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP's product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.
Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.
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