The latest trading session saw DXP Enterprises (DXPE) ending at $98.70, denoting a +0.56% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.72%. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 1.35%.
The industrial products supplier's stock has climbed by 18.71% in the past month, exceeding the Industrial Products sector's gain of 1.77% and the S&P 500's gain of 1.02%.
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. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. DXP Enterprises is currently a Zacks Rank #3 (Hold).
In terms of valuation, DXP Enterprises is currently trading at a Forward P/E ratio of 22.77. This signifies a discount in comparison to the average Forward P/E of 23.73 for its industry.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 172, finds itself in the bottom 32% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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