DXP Enterprises (NASDAQ:DXPE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada, Mexico and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production (MROP) services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP’s breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. “

Several other brokerages also recently commented on DXPE. Sidoti downgraded DXP Enterprises from a “buy” rating to a “neutral” rating in a report on Thursday, July 11th. ValuEngine downgraded DXP Enterprises from a “hold” rating to a “sell” rating in a report on Friday, July 12th. Finally, BidaskClub upgraded DXP Enterprises from a “sell” rating to a “hold” rating in a report on Saturday, August 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. DXP Enterprises has a consensus rating of “Hold” and a consensus target price of $47.00.

Shares of NASDAQ:DXPE traded down $0.39 during mid-day trading on Tuesday, hitting $36.37. 33,970 shares of the company traded hands, compared to its average volume of 79,231. The firm has a market cap of $632.46 million, a P/E ratio of 18.75, a PEG ratio of 0.85 and a beta of 2.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.75 and a current ratio of 2.56. DXP Enterprises has a 52-week low of $26.95 and a 52-week high of $45.66. The firm’s 50 day simple moving average is $32.63 and its 200 day simple moving average is $36.40.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The business had revenue of $333.30 million for the quarter, compared to the consensus estimate of $331.07 million. DXP Enterprises had a return on equity of 12.86% and a net margin of 3.19%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS. Equities research analysts expect that DXP Enterprises will post 2.4 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Nuveen Asset Management LLC bought a new stake in shares of DXP Enterprises in the 2nd quarter valued at approximately $8,671,000. Wells Fargo & Company MN increased its holdings in shares of DXP Enterprises by 55.3% in the 2nd quarter. Wells Fargo & Company MN now owns 255,979 shares of the industrial products company’s stock valued at $9,699,000 after acquiring an additional 91,152 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of DXP Enterprises in the 1st quarter valued at approximately $1,721,000. BlackRock Inc. increased its holdings in shares of DXP Enterprises by 1.4% in the 2nd quarter. BlackRock Inc. now owns 2,500,228 shares of the industrial products company’s stock valued at $94,734,000 after acquiring an additional 34,365 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of DXP Enterprises by 30.2% in the 2nd quarter. Renaissance Technologies LLC now owns 94,500 shares of the industrial products company’s stock valued at $3,581,000 after acquiring an additional 21,900 shares during the last quarter. Institutional investors own 78.84% of the company’s stock.

DXP Enterprises Company Profile

DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates in three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.

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