DXP Enterprises (DXPE) Stock Moves -0.73%: What You Should Know
In the latest trading session, DXP Enterprises (DXPE) closed at $35.15, marking a -0.73% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.94%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 1.53%.
Prior to today's trading, shares of the industrial products supplier had gained 4.24% over the past month. This has outpaced the Industrial Products sector's gain of 0.7% and the S&P 500's gain of 1.85% in that time.
Investors will be hoping for strength from DXP Enterprises as it approaches its next earnings release.
It is also important to note the recent changes to analyst estimates for DXP Enterprises. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 0.26% higher. DXP Enterprises is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note DXP Enterprises's current valuation metrics, including its Forward P/E ratio of 9.1. For comparison, its industry has an average Forward P/E of 18.74, 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 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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DXP Enterprises, Inc. (DXPE) : Free Stock Analysis Report
