DXP Enterprises (NASDAQ:DXPE) Hits New 52-Week High – Should You Buy?

DXP Enterprises, Inc. (NASDAQ:DXPE)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $73.75 and last traded at $73.45, with a volume of 49333 shares. The stock had previously closed at $71.33.

Analyst Ratings Changes

Separately, Stephens increased their price objective on shares of DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th.

DXP Enterprises Stock Performance

The firm has a market cap of $1.14 billion, a P/E ratio of 18.80 and a beta of 1.60. 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 company’s 50 day moving average is $57.79 and its 200 day moving average is $52.31.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Monday, November 4th. The industrial products company reported $1.43 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 firm had revenue of $472.94 million during the quarter. During the same quarter in the prior year, the business posted $0.93 earnings per share. As a group, equities analysts predict that DXP Enterprises, Inc. will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DXP Enterprises news, CMO Paz Maestas sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $53.21, for a total value of $106,420.00. Following the sale, the chief marketing officer now owns 617,367 shares in the company, valued at approximately $32,850,098.07. The trade was a 0.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 22.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DXP Enterprises

Hedge funds have recently made changes to their positions in the stock. BOKF NA bought a new position in DXP Enterprises during the 1st quarter worth approximately $269,000. Assenagon Asset Management S.A. acquired a new position in DXP Enterprises in the second quarter valued at $1,741,000. Allspring Global Investments Holdings LLC boosted its position in DXP Enterprises by 781.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,242 shares of the industrial products company’s stock valued at $332,000 after acquiring an additional 6,420 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of DXP Enterprises by 39.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,113 shares of the industrial products company’s stock worth $189,000 after acquiring an additional 1,174 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of DXP Enterprises in the 2nd quarter worth about $29,000. 74.82% of the stock is currently owned by institutional investors.

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).