DXP Enterprises (DXPE) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest trading session, DXP Enterprises (DXPE) closed at $53.73, marking a -0.33% move from the previous day. This move lagged the S&P 500's daily gain of 0.11%. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq decreased by 0.12%.
Prior to today's trading, shares of the industrial products supplier had gained 52.72% over the past month. This has outpaced the Industrial Products sector's gain of 7.65% and the S&P 500's gain of 3.55% in that time.
Investors will be eagerly watching for the performance of DXP Enterprises in its upcoming earnings disclosure.
It's also important for investors to be aware of any recent modifications to analyst estimates for DXP Enterprises. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. DXP Enterprises is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, DXP Enterprises is currently trading at a Forward P/E ratio of 17.06. This signifies a discount in comparison to the average Forward P/E of 22.21 for its industry.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 71, placing it within the top 29% of over 250 industries.
The Zacks Industry Rank is ordered 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.
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
