By early afternoon, shares had crashed 38.2% to $67.28.
Over the three months to March, the company reported net income of 75 cents a share, 42 cents lower than analysts surveyed by Thomson Reuters had forecast. Revenue of $348.5 million was 20.1% higher year over year, but missed expectations of $378 million.
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TheStreet Ratings team rates DXP ENTERPRISES INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate DXP ENTERPRISES INC (DXPE) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
- You can view the full analysis from the report here: DXPE Ratings Report