DXP Enterprises (DXPE) Rises But Trails Market: What Investors Should Know
DXP Enterprises (DXPE) ended the recent trading session at $32.69, demonstrating a +0.28% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 1.05%. Elsewhere, the Dow gained 0.67%, while the tech-heavy Nasdaq added 1.64%.
Heading into today, shares of the industrial products supplier had lost 5.18% over the past month, lagging the Industrial Products sector's loss of 5.03% and the S&P 500's loss of 2.21% in that time.
Investors will be eagerly watching for the performance of DXP Enterprises in its upcoming earnings disclosure.
Any recent changes to analyst estimates for DXP Enterprises should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 8.38. This represents a discount compared to its industry's average Forward P/E of 18.44.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 66, this industry ranks in the top 27% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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DXP Enterprises, Inc. (DXPE) : Free Stock Analysis Report
