DXP Enterprises (DXPE) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, DXP Enterprises (DXPE) closed at $38.75, marking a +1.39% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq gained 10.86%.
Coming into today, shares of the industrial products supplier had gained 5.58% in the past month. In that same time, the Industrial Products sector gained 5.55%, while the S&P 500 gained 3.98%.
Wall Street will be looking for positivity from DXP Enterprises as it approaches its next earnings report date.
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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. DXP Enterprises is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, DXP Enterprises is holding a Forward P/E ratio of 9.85. This valuation marks a discount compared to its industry's average Forward P/E of 20.23.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 110, which puts it in the top 44% 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.
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
