DXP Enterprises (DXPE) closed at $91.38 in the latest trading session, marking a +0.43% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.16% for the day. Meanwhile, the Dow experienced a rise of 0.86%, and the technology-dominated Nasdaq saw a decrease of 0.38%.
Heading into today, shares of the industrial products supplier had gained 14.31% over the past month, outpacing the Industrial Products sector's loss of 8.81% and the S&P 500's loss of 2.2% in that time.
The investment community will be paying close attention to the earnings performance of DXP Enterprises in its upcoming release.
Investors should also take note of any recent adjustments to analyst estimates for DXP Enterprises. Recent revisions tend to reflect the latest 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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. DXP Enterprises is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, DXP Enterprises is presently being traded at a Forward P/E ratio of 21.11. This denotes a discount relative to the industry's average Forward P/E of 21.32.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 160, placing it within the bottom 37% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much 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
To read this article on Zacks.com click here.
Zacks Investment Research
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.