DXP Enterprises (NASDAQ:DXPE) Announces Earnings Results

by · The Markets Daily

DXP Enterprises (NASDAQ:DXPE – Get Free Report) announced its quarterly earnings results on Wednesday. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.91 by $0.48, Zacks reports. DXP Enterprises had a net margin of 4.40% and a return on equity of 19.15%. The business had revenue of $527.39 million for the quarter, compared to analysts’ expectations of $499.00 million.

DXP Enterprises Trading Down 8.4%

NASDAQ:DXPE traded down $12.53 during mid-day trading on Friday, hitting $136.23. 66,267 shares of the stock traded hands, compared to its average volume of 124,509. The company has a quick ratio of 2.36, a current ratio of 2.77 and a debt-to-equity ratio of 1.27. DXP Enterprises has a 52 week low of $67.68 and a 52 week high of $171.70. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 25.32 and a beta of 1.00. The firm’s 50 day moving average is $128.98 and its two-hundred day moving average is $118.34.

Analyst Ratings Changes

A number of equities research analysts recently commented on DXPE shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of DXP Enterprises in a research report on Monday, December 29th. Wall Street Zen downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $95.00.

Check Out Our Latest Analysis on DXPE

Institutional Investors Weigh In On DXP Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP increased its stake in DXP Enterprises by 12.7% in the fourth quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company’s stock worth $133,867,000 after purchasing an additional 137,577 shares during the period. Wasatch Advisors LP grew its holdings in shares of DXP Enterprises by 480.2% in the fourth quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company’s stock worth $82,859,000 after purchasing an additional 624,638 shares during the last quarter. Geode Capital Management LLC increased its stake in DXP Enterprises by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 335,991 shares of the industrial products company’s stock worth $36,895,000 after buying an additional 9,767 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of DXP Enterprises by 0.9% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 271,079 shares of the industrial products company’s stock worth $32,278,000 after acquiring an additional 2,359 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of DXP Enterprises by 41.6% during the 3rd quarter. Invesco Ltd. now owns 250,790 shares of the industrial products company’s stock worth $29,862,000 after purchasing an additional 73,653 shares during the last quarter. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

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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