DXP Enterprises (DXPE) Gains As Market Dips: What You Should Know
DXP Enterprises (DXPE) closed the most recent trading day at $37.32, moving +0.05% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.1%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 5.8%.
Coming into today, shares of the industrial products supplier had gained 3.15% in the past month. In that same time, the Industrial Products sector gained 5.2%, while the S&P 500 gained 3.39%.
DXP Enterprises will be looking to display strength as it nears its next earnings release.
Investors might also notice recent changes to analyst estimates for DXP Enterprises. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. DXP Enterprises is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note DXP Enterprises's current valuation metrics, including its Forward P/E ratio of 9.61. For comparison, its industry has an average Forward P/E of 20.5, 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 105, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DXPE in the coming trading sessions, be sure to utilize Zacks.com.
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DXP Enterprises, Inc. (DXPE) : Free Stock Analysis Report
