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DXP Enterprises (DXPE) ended the recent trading session at $88.98, demonstrating a +0.59% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.63%. Meanwhile, the Dow gained 0.21%, and the Nasdaq, a tech-heavy index, added 1.52%.
Coming into today, shares of the industrial products supplier had gained 4.18% in the past month. In that same time, the Industrial Products sector lost 1.32%, while the S&P 500 lost 0.7%.
Analysts and investors alike will be keeping a close eye on 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. 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.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 22.51% higher. Right now, DXP Enterprises possesses a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, DXP Enterprises is holding a Forward P/E ratio of 16.75. This signifies a discount in comparison to the average Forward P/E of 20.64 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 146, placing it within the bottom 41% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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DXP Enterprises, Inc. (DXPE) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).