Is DXP Enterprises (DXPE) Stock Outpacing Its Industrial Products Peers This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. DXP Enterprises (DXPE) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
DXP Enterprises is one of 223 individual stocks in the Industrial Products sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. DXP Enterprises is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DXPE's full-year earnings has moved 0.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, DXPE has returned 31.5% so far this year. Meanwhile, the Industrial Products sector has returned an average of 9.4% on a year-to-date basis. This shows that DXP Enterprises is outperforming its peers so far this year.
Another stock in the Industrial Products sector, Esco Technologies (ESE), has outperformed the sector so far this year. The stock's year-to-date return is 21.1%.
For Esco Technologies, the consensus EPS estimate for the current year has increased 1.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, DXP Enterprises belongs to the Manufacturing - General Industrial industry, a group that includes 42 individual stocks and currently sits at #66 in the Zacks Industry Rank. On average, this group has gained an average of 8.7% so far this year, meaning that DXPE is performing better in terms of year-to-date returns.
Esco Technologies, however, belongs to the Manufacturing - Electronics industry. Currently, this 17-stock industry is ranked #86. The industry has moved +20.5% so far this year.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to DXP Enterprises and Esco Technologies as they could maintain their solid performance.
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DXP Enterprises, Inc. (DXPE) : Free Stock Analysis Report
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