2024-04-04 10:44:42 ET
Summary
- DXP Enterprises booked EBITDA of just over $170 million in 2023 and I think 2024 is shaping up as another strong year.
- In my view, DXP Enterprises could book organic revenue growth of close to 10% in 2024, with the EBITDA margin likely to surpass 11%.
- However, the EV/EBITDA ratio has surpassed 7.5x and the price to tangible book value has rarely been this deep into negative territory.
- In my view, this could be a good time for investors to trim or close their positions.
Introduction
In September 2023, I wrote a bullish article on SA about US pump distributor DXP Enterprises (DXPE) in which I said that I expected strong results for the second half of 2023 thanks to high oil prices and that share buybacks could provide a boost for its share price....
Read the full article on Seeking Alpha
For further details see:
DXP Enterprises: The Upside Potential Is Starting To Look Limited (Rating Downgrade)