DXP Enterprises (NASDAQ:DXPE) Upgraded at StockNews.com

StockNews.com upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Separately, Stephens increased their price objective on shares of DXP Enterprises from $75.00 to $95.00 and gave the company an “overweight” rating in a report on Monday.

DXP Enterprises Stock Performance

NASDAQ DXPE opened at $80.37 on Tuesday. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 20.71 and a beta of 1.66. The stock has a 50-day moving average of $94.23 and a 200 day moving average of $73.49. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29. DXP Enterprises has a twelve month low of $43.25 and a twelve month high of $107.06.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Thursday, March 6th. The industrial products company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.49. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The business had revenue of $470.91 million during the quarter, compared to the consensus estimate of $447.00 million. Sell-side analysts anticipate that DXP Enterprises will post 4.07 EPS for the current fiscal year.

Hedge Funds Weigh In On DXP Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in DXPE. Principal Financial Group Inc. raised its holdings in DXP Enterprises by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 68,997 shares of the industrial products company’s stock valued at $3,682,000 after acquiring an additional 178 shares during the last quarter. CastleKnight Management LP raised its stake in DXP Enterprises by 0.3% during the fourth quarter. CastleKnight Management LP now owns 117,300 shares of the industrial products company’s stock worth $9,691,000 after purchasing an additional 300 shares during the period. Sterling Capital Management LLC boosted its holdings in DXP Enterprises by 4.4% in the 4th quarter. Sterling Capital Management LLC now owns 7,656 shares of the industrial products company’s stock valued at $633,000 after purchasing an additional 326 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of DXP Enterprises by 2,220.0% in the 4th quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company’s stock valued at $29,000 after buying an additional 333 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of DXP Enterprises by 4.7% during the 4th quarter. Federated Hermes Inc. now owns 11,220 shares of the industrial products company’s stock worth $927,000 after buying an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

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).