DXP Enterprises (DXPE) Declines More Than Market: Some Information for Investors
In the latest trading session, DXP Enterprises (DXPE) closed at $34.24, marking a -1.27% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.6%. On the other hand, the Dow registered a loss of 0.17%, and the technology-centric Nasdaq decreased by 0.92%.
Coming into today, shares of the industrial products supplier had gained 6.97% in the past month. In that same time, the Industrial Products sector gained 5.78%, while the S&P 500 gained 3.56%.
The upcoming earnings release of DXP Enterprises will be of great interest to investors.
Investors should also pay attention to any latest changes in analyst estimates for DXP Enterprises. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. DXP Enterprises is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, DXP Enterprises is currently trading at a Forward P/E ratio of 10.98. This denotes a discount relative to the industry's average Forward P/E of 21.85.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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DXP Enterprises, Inc. (DXPE) : Free Stock Analysis Report
