Zacks Investment Research upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a hold rating to a buy rating in a research report released on Thursday. They currently have $37.00 price target on the industrial products company’s stock.
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. “
DXPE has been the topic of several other reports. Stephens reissued a buy rating and set a $49.00 target price on shares of DXP Enterprises in a research note on Wednesday, November 14th. ValuEngine downgraded shares of DXP Enterprises from a buy rating to a hold rating in a report on Thursday, October 18th. Finally, BidaskClub cut shares of DXP Enterprises from a sell rating to a strong sell rating in a research report on Tuesday, October 23rd.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in shares of DXP Enterprises by 1.5% in the fourth quarter. BlackRock Inc. now owns 2,410,172 shares of the industrial products company’s stock valued at $67,097,000 after buying an additional 35,801 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new stake in DXP Enterprises during the fourth quarter worth approximately $28,000. Acadian Asset Management LLC grew its stake in DXP Enterprises by 8.5% during the fourth quarter. Acadian Asset Management LLC now owns 37,758 shares of the industrial products company’s stock worth $1,050,000 after buying an additional 2,949 shares during the period. Prudential Financial Inc. boosted its stake in shares of DXP Enterprises by 4.8% in the fourth quarter. Prudential Financial Inc. now owns 56,491 shares of the industrial products company’s stock valued at $1,573,000 after purchasing an additional 2,593 shares during the period. Finally, BBT Capital Management LLC bought a new position in DXP Enterprises during the 4th quarter valued at $517,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.
About DXP Enterprises
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 through 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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