DXP Enterprises (DXPE) Rises As Market Takes a Dip: Key Facts
The latest trading session saw DXP Enterprises (DXPE) ending at $35.16, denoting a +0.46% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.16%, and the tech-heavy Nasdaq lost 0.13%.
Shares of the industrial products supplier have appreciated by 6.03% over the course of the past month, underperforming the Industrial Products sector's gain of 6.21% and outperforming the S&P 500's gain of 4.74%.
Market participants will be closely following the financial results of DXP Enterprises in its upcoming release.
Investors should also pay attention to any latest changes in analyst estimates for DXP Enterprises. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. DXP Enterprises presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, DXP Enterprises is currently exchanging hands at a Forward P/E ratio of 11.08. This indicates a discount in contrast to its industry's Forward P/E of 21.77.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 26% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
DXP Enterprises, Inc. (DXPE) : Free Stock Analysis Report
