DXP Enterprises (DXPE) Gains But Lags Market: What You Should Know
DXP Enterprises (DXPE) closed at $37.46 in the latest trading session, marking a +0.81% move from the prior day. This move lagged the S&P 500's daily gain of 0.84%. Meanwhile, the Dow gained 0.96%, and the Nasdaq, a tech-heavy index, added 0.81%.
Prior to today's trading, shares of the industrial products supplier had gained 11.39% over the past month. This has outpaced the Industrial Products sector's loss of 3.16% and the S&P 500's gain of 0.19% in that time.
Investors will be hoping for strength from DXP Enterprises as it approaches its next earnings release.
Investors might also notice recent changes to analyst estimates for DXP Enterprises. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. DXP Enterprises is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that DXP Enterprises has a Forward P/E ratio of 9.58 right now. For comparison, its industry has an average Forward P/E of 18.43, which means DXP Enterprises is trading at a discount to the group.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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DXP Enterprises, Inc. (DXPE) : Free Stock Analysis Report
