DXP Enterprises (DXPE) ended the recent trading session at $98.97, demonstrating a -1.89% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.92%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq gained 2.03%.
Shares of the industrial products supplier witnessed a gain of 22.9% over the previous month, beating the performance of the Industrial Products sector with its gain of 3.83% and the S&P 500's gain of 0.81%.
Analysts and investors alike will be keeping a close eye on the performance of DXP Enterprises in its upcoming earnings disclosure.
It is also important to note the recent changes to analyst estimates for DXP Enterprises. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, the Zacks Consensus EPS estimate has remained steady. DXP Enterprises currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, DXP Enterprises is holding a Forward P/E ratio of 23.41. For comparison, its industry has an average Forward P/E of 23.86, which means DXP Enterprises is trading at a discount to the group.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 182, this industry ranks in the bottom 28% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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