DXP Enterprises (DXPE) ended the recent trading session at $101.65, demonstrating a -0.77% swing from the preceding day's closing price. This change lagged the S&P 500's 0.03% gain on the day. At the same time, the Dow added 0.28%, and the tech-heavy Nasdaq lost 0.36%.
Heading into today, shares of the industrial products supplier had gained 12.1% over the past month, outpacing the Industrial Products sector's gain of 3.88% and the S&P 500's gain of 4.19% in that time.
The investment community will be paying close attention to the earnings performance of DXP Enterprises in its upcoming release.
Any recent changes to analyst estimates for DXP Enterprises should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, DXP Enterprises boasts a Zacks Rank of #3 (Hold).
Digging into valuation, DXP Enterprises currently has a Forward P/E ratio of 23.77. This denotes a premium relative to the industry's average Forward P/E of 23.34.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 159, finds itself in the bottom 37% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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